NEW YORK, Sept. 23, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of China Evergrande Group ("China Evergrande" or the "Company") (OTCMKTS: EGRNY) (OTCMKTS: EGRNF). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether China Evergrande and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On September 18, 2021, The Wall Street Journal published an article entitled "How Beijing's Debt Clampdown Shook the Foundation of a Real-Estate Colossus: China Evergrande's looming collapse and its ripple effect on the economy will pose a test for the government's campaign to keep housing affordable for the masses". The article reported, among other things, that "[y]ears of aggressive borrowing have collided with Beijing's crackdown on debt, leaving [China Evergrande] on the brink of collapse." On this news, China Evergrande's share price fell sharply, damaging investors.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com