Los Angeles, CA - (NewMediaWire) - May 24, 2021 - The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Ebang International Holdings Inc. (“Ebang” or “the Company”) (NASDAQ: EBON) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between June 26, 2020 and April 5, 2021, inclusive (the ''Class Period''), are encouraged to contact the firm before June 7, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Ebang directed the proceeds of its public offerings into low yield, long-term bonds and to related parties instead of developing its operations and infrastructure. The Company inflated its declining sales through schemes such as selling defective units. The Company’s prior attempts to go public in Hong Kong failed due to allegations of embezzlement and inflating sales figures. The Company’s purported cryptocurrency exchange was actually the purchase of an out-of-the-box crypto solution. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Ebang, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
The Schall Law Firm
Brian Schall, Esq.,
The Schall Law Firm