NEW YORK, Dec. 1, 2020 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of ECMOHO Limited ("MOHO" or the "Company") (NASDAQ: MOHO). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether ECMOHO and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around November 8, 2019, ECMOHO completed its initial public offering ("IPO"), issuing 4,375,000 American Depositary Shares ("ADSs") priced at $10.00 per ADS. On November 30, 2020, post-market, ECMOHO reported its financial results for the third quarter of 2020. Among other results, ECMOHO reported GAAP EPS of -$0.03 on revenue of $71.45 million, representing a decline of approximately 4.6% compared to revenue for the same period in the prior year.
Since the IPO, ECMOHO's ADSs have closed as low as $1.30 per ADS, representing a decline of 87% from the offering price.
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.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP