MILWAUKEE, April 7, 2021 /PRNewswire/ -- Ademi LLP is investigating possible securities fraud claims against Ebang (NASDAQ: EBON). The investigation results from inaccurate statements Ebang may have made regarding its financial results, business operations and prospects.
Click here to learn more about the investigation: https://www.ademilaw.com/case/ebang-international-holdings-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
The investigation focuses on whether Ebang properly disclosed how it used the proceeds from its November IPO. Hindenburg Research has alleged Ebang is directing proceeds into a "series of opaque deals with insiders and questionable counterparties." According to Hindenburg, Ebang claimed that it was using the $21 million from its IPO "primarily for development," but these proceeds were used to repay loans to a relative of Ebang's Chairman/CEO Dong Hu.
If you wish to obtain additional information or have information about this investigation, please contact Guri Ademi either at [email protected] or toll-free: 866-264-3995, https://www.ademilaw.com/case/ebang-international-holdings-inc.
We specialize in securities fraud and shareholder litigation. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Ademi LLP