U.S. Markets open in 2 hrs 45 mins

Ideanomics, Inc. Investors Who Have Suffered Losses Greater Than $50,000 Encouraged To Contact Kehoe Law Firm, P.C.

PHILADELPHIA, June 26, 2020 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Ideanomics, Inc. (“Ideanomics” or the “Company”) (NASDAQ: IDEX) to determine whether Ideanomics engaged in securities fraud or other unlawful business practices.  

On June 25, 2020, SeekingAlpha reported (“Ideanomics sinks as Hindenburg says it’s short”) that “Ideanomics . . .  falls 13.6% to $2.67 after Hindenburg Research says it's short and sees shares heading towards the March lows of $0.30.” According to SeekingAlpha, “[t]he short seller accuses Ideanomics of doctoring vehicle photos in press releases to suggest that it owned or operated the facility, which is actually operated by almost 100 unrelated sales groups.” 

On this news, Ideanomics stock price fell approximately 21% in a day, down to $2.44 per share from the Company’s June 24, 2020 close of $3.09 per share. During intraday trading on June 26, 2020, shares of Ideanomics were down over 40%, trading at $1.20 per share.

Ideanomics investors who purchased, or otherwise acquired, the Company’s common stock and suffered losses greater than $50,000 are encouraged to complete Kehoe Law Firm’s Securities Class Action Questionnaire or contact Kevin Cauley, Director, Business Development, (215) 792-6676, Ext. 802, securities@kehoelawfirm.com,  to discuss the securities investigation or potential legal claims.

Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct.  Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.   

This press release may constitute attorney advertising.