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Ebang Investors Who Have Lost Money Today Should Contact Block & Leviton, Who Is Investigating the Company

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Newsfile Corp.
·2 min read
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Boston, Massachusetts--(Newsfile Corp. - April 6, 2021) - Block & Leviton LLP is investigating whether Ebang International Holdings (NASDAQ: EBON) committed violations of federal securities fraud laws, and investors who have lost money should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/ebon.

What is this all about?

Earlier today, analyst Hindenburg Research published a scathing report on the Chinese cryptocurrency company, alleging that the company used the proceeds from four recent IPOs to funnel money to insiders and "questionable counterparties." According to the report, Ebang raised $21 million in November 2020, claiming the proceeds would go "primarily for development." The report alleges that $21 million was directed to repay related-party loans to a relative of the company's Chairman/CEO Dong Hu. The 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 shares dropped 9.3% in premarket trading.

Who is eligible?

Anyone who purchased Ebang shares and has now lost money as a result of the publication of this report may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.

What is Block & Leviton doing?

Block & Leviton is considering filing a securities class action lawsuit to attempt to recover losses on behalf of investors who have lost money.

What should you do next?

If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.

Why should you contact Block & Leviton?

Many law firms have issued releases about this matter; many of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.

This notice may constitute attorney advertising.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79545