(English) Ebang International Holdings Inc.
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(English) SHAREHOLDER ALERT: Zhang Investor Law Announces a Securities Class Action Lawsuit Against Ebang International Holdings Inc. – EBON
New York, N.Y., April 26, 2021. Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Ebang International Holdings Inc. (NASDAQ: ECON) between June 26, 2020 and April 5, 2021, inclusive (the “Class Period”).
To join the EBON class action, go to http://zhanginvestorlaw.com/cases/[company-name]/ call Sophie Zhang, Esq. toll-free at 800-991-3756 or email email@example.com for information on the class action.
Lead plaintiff status is not required to seek compensation. You may retain counsel of your choice. You may remain an absent class member and take no action at this time.
According to the lawsuit, throughout the Class Period (1) the proceeds from Ebang’s public offerings had been directed to a low yield, long term bonds to an underwriter and to related parties rather than used to develop the Company’s operations; (2) Ebang’s sales were declining and the Company had inflated reported sales, including through the sale of defective units; (3) Ebang’s attempts to go public in Hong Kong had failed due to allegations of embezzling investor funds and inflated sales figures; (4) Ebang’s purported cryptocurrency exchange was merely the purchase of an out-of-the-box crypto exchange; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 7, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://zhanginvestorlaw.com/cases/ebang-international-holdings-inc/ or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. of Zhang Investor Law toll free at 800-991-3756 or via e-mail at firstname.lastname@example.org.
Zhang Investor Law represents investors worldwide.