Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Tenet Fintech Group Inc. and Encourages Investors to Contact the Firm
NEW YORK, Dec. 19, 2021 (GLOBE NEWSWIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed against Tenet Fintech Group Inc. (“Tenet” or the.) “Company”) (other OTC: PKKFF) at the United States District Court for the Eastern District of New York on behalf of all persons and entities that purchased or otherwise acquired Tenet securities between September 2, 2021 and October 13, 2021 , both (the “Class Period”). Investors have until January 18, 2022 to apply to the court to be named as the main plaintiff in the legal dispute.
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According to the lawsuit, defendants made false and / or misleading statements and / or did not provide any information during the class action period: (1) Tenet Fintech did not hold 51% of Asia Synergy Financial Capital Ltd. through Wuxi Aorong. (“ASFC”); (2) Tenet Fintech has not disclosed its actual ownership structure of ASFC, an undisclosed and potentially problematic nominee shareholder agreement; (3) Huayan did not own the Heartbeat platform; (4) the Heartbeat platform did not exist prior to the alleged takeover; (5) Tenet Fintech faced the imminent delisting of NASDAQ for failure to comply with known regulations; (6) the “Most Recent Disclosure Policy” was actually released on November 23, 2020, almost a full nine months prior to Tenet Fintech’s inclusion; (7) As such, Tenet Fintech knew or should have known that its 40-F filing was flawed; (8) Cubeler has failed in the past to make even minimal loan repayments to Tenet Fintech; (9) Tenet Fintech has chosen to buy Cubeler instead of exercising its rights to the assets; (10) Given the foregoing and the fact that Cubeler is owned by several Tenet Fintech insiders, the Company’s acquisition of Cubeler is not based on legitimate business interests; (11) there is no evidence that Huayan ever owned the Heartbeat Platform or that it transferred the asset to Huike; (12) the shares of the largest shareholder in ASFC have been frozen due to legal sanctions; and (13) the formation of ASFC itself was likely a related party transaction. When the real details hit the market, the lawsuit claims that investors have suffered damage.
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If you have purchased or otherwise acquired Tenet shares and have suffered a loss, are a long-term shareholder, have information, would like to learn more about these claims, or have any questions about this release or your rights or interests in relation to these matters, please contact Brandon Walker or Alexandra Raymond by email at email@example.com, by phone at (212) 355-4648, or fill out this contact form. There are no costs or obligations for you.
About Bragar Eagle & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.
Bragar Eagle & Squire, PC
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.