Cases
Yangtze River Port and Logistics Limited (YRIV)
Securities Class Action
Overview
Overview
- Date:
- 12/13/2018
- Company Name:
- Yangtze River Port and Logistics Limited
- Stock Symbol:
- YRIV
- Status:
- Closed/Complete
NEW YORK, December 13, 2018 - Bragar Eagel & Squire, P.C. is investigating potential claims against Yangtze River Port and Logistics Limited (NASDAQ:YRIV). Our investigation concerns whether Yangtze has violated the federal securities laws and/or engaged in other unlawful business practices.
On December 6, 2018, Hindenburg Research published a report entitled Yangtze River Port Logistics: Total Zero. On-the-Ground Research Shows Assets Appear to be Largely Fabricated. The Hindenburg report described Yangtze as a scheme run by its Chairman controlling shareholder to siphon money away from U.S. public markets. Among other allegations, the Hindenburg report asserted that Yangtze's only operating entity has been declared insolvent in China and is involved in multiple undisclosed legal proceedings and, citing "government-sourced documents and interviews with local officials, we believe that at least 77% of the company's reported assets are fabricated. On this news, Yangtze's share price fell by more than 28%, closing at $8.28 per share on December 7, 2018.
If you purchased or otherwise acquired Yangtze shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On December 6, 2018, Hindenburg Research published a report entitled Yangtze River Port Logistics: Total Zero. On-the-Ground Research Shows Assets Appear to be Largely Fabricated. The Hindenburg report described Yangtze as a scheme run by its Chairman controlling shareholder to siphon money away from U.S. public markets. Among other allegations, the Hindenburg report asserted that Yangtze's only operating entity has been declared insolvent in China and is involved in multiple undisclosed legal proceedings and, citing "government-sourced documents and interviews with local officials, we believe that at least 77% of the company's reported assets are fabricated. On this news, Yangtze's share price fell by more than 28%, closing at $8.28 per share on December 7, 2018.
If you purchased or otherwise acquired Yangtze shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.