Kessler Topaz Meltzer & Check, LLP Announces Class Action Lawsuit Has Been Filed Against Ebang International Holdings Inc.
RADNOR, Pa., May 2, 2021 (GLOBE NEWSWIRE) – Law firm Kessler Topaz Meltzer & Check, LLP is reminding investors of Ebang International Holdings Inc. (NASDAQ: EBON) (“Ebang”) that a class action lawsuit for securities fraud has been filed with the US – District Court for the Southern District of New York filed against Ebang on behalf of those who bought or acquired Ebang securities between June 26, 2020 and April 5, 2021including (the “Class Period”).
Deadline of the main plaintiff: June 7, 2021
Contact: James Maro, Esq. (484) 270-1453
Adrienne Bell, Esq. (484) 270-1435
Toll Free (844) 887-9500
Ebang is a leader in application specific integrated circuit chips and a leading manufacturer of bitcoin mining equipment.
The complaint alleges that throughout the class period, defendants failed to advise investors that: (1) the proceeds from Ebang’s public offerings will be used for long-term, low-yielding bonds to an underwriter and related parties and will not be used for development became Ebang’s operations; (2) Ebang’s sales were down, and Ebang had increased reported sales, including through sales of defective units. (3) Ebang’s attempts to go public in Hong Kong had failed due to allegations of misappropriation of investor funds and excessive sales. (4) Ebang’s alleged 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 Ebang’s business, business and prospects were materially misleading and / or unfounded.
Ebang investors can no later than June 7, 2021, attempt to be appointed plaintiff’s principal representative of the class by Kessler Topaz Meltzer & Check, LLP, or other lawyer, or choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the dispute. To be named lead plaintiff, the court must determine that the class member’s claim is typical of the claims of other class members and that the class member is adequately representing the class. Your ability to get involved in a recovery will not be affected by whether or not you will be the lead plaintiff.
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Kessler Topaz Meltzer & Check, LLP, pursues class action lawsuits in state and federal courts across the country involving securities fraud, fiduciary violations, and other violations of federal and state law. Kessler Topaz Meltzer & Check, LLP, is a driving force behind corporate governance reform and has reclaimed billions of dollars on behalf of institutional and individual investors from the US and around the world. The company represents investors, consumers and whistleblowers (individuals who report fraudulent practices against the government and are involved in recovering government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. Further information on Kessler Topaz Meltzer & Check, LLP can be found at www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro Jr., Esq.
Adrienne Bell, Esq.
280 Street of the King of Prussia
Radnor, PA 19087
(844) 887-9500 (toll free)