SAN FRANCISCO, CA / ACCESSWIRE / April 18, 2021 / Hagens Berman urges EHang Holdings Limited (NASDAQ: EH) investors with significant losses to file their losses now.
Classes: December 9, 2019 – February 16, 2021
Lead plaintiff deadline: April 19, 2021
Contact an attorney now: [email protected]
EHang Holdings Limited (EH) securities disputes:
The complaint alleges that throughout the classroom, defendants misrepresented and concealed the following: (i) E-Hang’s alleged regulatory approvals in Europe and North America for the EH216 were for use as a drone and not for carriage Passengers intended; (ii) his relationship with his alleged primary customer Kunxiang is a sham; (iii) EHang has only accumulated a fraction of its reported sales since its ADS traded on NASDAQ in December 2019. and (iv) the company’s manufacturing facilities were virtually empty with no evidence of advanced manufacturing facilities or employees.
Investors allegedly learned the truth on February 16, 2021 when analyst Wolfpack Research released a scathing report on the company. Wolfpack Research claims Kunxiang entered into bogus contracts to promote EH’s share price. Wolfpack Research also claims that EH has exaggerated revenue by reporting sales for which it cannot generate revenue. Wolfpack Research also notes that EH is making false claims about regulatory approvals that it allegedly received, misleadingly suggesting that the company has commercial approval for its products.
In the news, EHang shares fell $ 77.79 per share (or 62.7%) in one trading day.
Most recently, on April 16, 2021, EHang published disappointing results for the fourth quarter of 2020 and recorded slight sales growth and a sales decline of 15% compared to the fourth quarter of 2019.
“We’re focusing on investor losses and proving that EH lied about its earnings, customers and regulatory approvals,” said Reed Kathrein, the Hagens Berman partner who led the investigation.
The story goes on
If you are a retail investor, click here to discuss your legal rights with Hagens Berman.
Whistleblower: Individuals with nonpublic information about EH should review their options to help with the investigation or to use the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. Further information is available from Reed Kathrein at 844-916-0895 or send an email to [email protected]
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Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman Sobol Shapiro LLP
View source version on accesswire.com:
https://www.accesswire.com/640973/EH-FINAL-DEADLINE-ALERT-HAGENS-BERMAN-NATIONAL-TRIAL-ATTORNEYS-Alerts-EHang-Holdings-Limited-EH-Investors-to-Tomorrow-April-19th- Securities filing deadline for class action encourages loss-making investors to contact the company