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Radnor, Pennsylvania, May 30, 2021 (Global News Agency) – Kessler Topaz Meltzer & Check, LLP Law Firm reminded Ebon International Holdings (NASDAQ:ebony) (“Yibang”) investor, who has represented a person who purchased or acquired Yibang Securities, filed a securities fraud class action against Yibang in the U.S. District Court for the Southern District of New York June 26, 2020 to April 5, 2021, Included (“Class Hours”).
Deadline for lead plaintiff: June 7, 2021
Yibang is a leading ASIC chip design company and a leading manufacturer of Bitcoin mining machines.
The complaint stated that during the entire class action period, the defendant did not disclose to investors: (1) Yibang’s publicly issued proceeds were used to provide low-yield long-term bonds to underwriters and related parties, instead of being used to develop Yibang’s operations; ( 2) Yibang’s sales declined. Yibang overstated its reported sales, including through the sale of defective products; (3) Yibang failed to list in Hong Kong due to suspected misappropriation of investor funds and exaggerated sales figures; (4) ) Ebang’s so-called cryptocurrency exchange only purchased out-of-the-box cryptocurrency exchanges; (5) Due to the above reasons, the defendant’s positive statements about Ebang’s business, operations and prospects are materially misleading and/or lack reasonable basis .
Yibang investors may, No later than June 7, 2021, Seeking to be appointed as the chief plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other lawyers, or can choose to do nothing and remain absent class members. The lead plaintiff is the representative party who directs the litigation on behalf of all class members. In order to be appointed as the lead plaintiff, the court must determine that the claim of a class member is a typical representative of the claims of other class members, and that the class member will fully represent the class. Your ability to share any recovery is not affected by the decision whether to serve as the lead plaintiff.
Kessler Topaz Meltzer & Check, LLP is suing class actions involving securities fraud, breach of fiduciary duties, and other violations of state and federal laws in state and federal courts across the country. Kessler Topaz Meltzer & Check, LLP is the driving force of corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors in the United States and around the world. The company represents investors, consumers, and whistleblowers (private citizens who report fraud against the government and share the recovery of government funds). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP.For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
contact:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, Pennsylvania 19087
(844) 887-9500 (toll free)
info@ktmc.com
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