The Thornton Regulation Agency alerts traders that a class motion lawsuit has been filed on behalf of traders of EHang Holdings Restricted (NASDAQ:EH).
The case is at present within the lead plaintiff stage. Traders who bought EH inventory or different securities between December 12, 2019, and February 16, 2021, might contact the Thornton Regulation Agency’s investor safety crew by visiting www.tenlaw.com/instances/EHang to submit their data. Traders may additionally e-mail traders[email protected] or name 617-531-3917.
The grievance alleges that EHang and its senior executives made deceptive statements to traders and did not disclose that: (i) EHang’s purported regulatory approvals in Europe and North America for its EH216 had been to be used as a drone, and never for carrying passengers; (ii) its relationship with its purported main buyer is a sham; (iii) EHang has solely collected on a fraction of its reported gross sales since its ADS started buying and selling on NASDAQ in December 2019; and (iv) EHang’s manufacturing amenities had been virtually empty and lacked proof of superior manufacturing tools or staff.
EHang traders have till April 19, 2021, to retain counsel and apply to be a lead plaintiff if they’re to take action. Traders don’t have to be a lead plaintiff to be able to be a category member. A lead plaintiff acts on behalf of all different investor class members in managing the category motion. If traders select to take no motion, they’ll stay an absent class member. The category has not but been licensed. Till certification happens, traders will not be represented by an lawyer.
Thornton Regulation Agency’s securities attorneys are extremely skilled in representing traders in recovering damages brought on by violations of the securities legal guidelines. Its attorneys have established monitor data litigating securities instances in courts all through the nation and recovering losses on behalf of traders. This can be thought of Legal professional Promoting in some jurisdictions. Prior outcomes don’t assure or predict the same consequence with respect to any future matter.
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