New York, New York--(Newsfile Corp. - May 12, 2021) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Ebang International Holdings Inc. (NASDAQ: EBON) alleging that the Company violated federal securities laws.
Class Period: June 26, 2020 and April 5, 2021
Lead Plaintiff Deadline: June 7, 2021
Learn more about your recoverable losses in EBON:
The filed complaint alleges that Ebang International Holdings Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the proceeds from Ebang's public offerings had been directed to an 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.
Shareholders have until June 7, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
For additional information about the EBON lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
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