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Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Ebang International Holdings (EBON) Investigation

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NEW YORK, NY / ACCESSWIRE / April 6, 2021 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Ebang International Holdings ("Ebang" or "the Company") (NASDAQ:EBON). Investors who purchased Ebang securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/ebon.

The investigation concerns whether Ebang and certain of its officers and/or directors have violated federal securities laws.

On April 6, 2021, Hindenburg Research ("Hindenburg") published a report on Ebang, alleging that the Company used the proceeds from recent stock offerings to funnel money to insiders and "questionable counterparties." According to the Hindenburg report, Ebang raised $21 million in November 2020, claiming that the proceeds would be allocated "primarily for development." The Hindenburg report alleges that $21 million was in fact directed to repay related-party loans to a relative of the Company's Chairman and Chief Executive Officer Dong Hu. The Hindenburg report also noted that EBang's earlier efforts to go public on the Hong Kong Stock Exchange failed due to widespread media coverage of its relationship with Yindou, a massive Chinese peer-to-peer online lending scheme that defrauded 20,000 retail investors in 2018, with $655 million "vanish[ing] into thin air." On this news, Ebang's stock price fell sharply on April 6, 2021.

If you are aware of any facts relating to this investigation, or purchased Ebang shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/ebon. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC



View source version on accesswire.com:
https://www.accesswire.com/639165/Bronstein-Gewirtz-Grossman-LLC-Notifies-Investors-of-Ebang-International-Holdings-EBON-Investigation