NEW YORK,
Dec. 21,
2022 /PRNewswire/ -- The Gross Law Firm issues the
following notice to shareholders of Singularity Future
Technology Ltd..
Shareholders who purchased shares of SGLY during
the class period listed are encouraged to contact the firm
regarding possible lead plaintiff appointment. Appointment as lead
plaintiff is not required to partake in any recovery.
CONTACT US HERE:
?id=34810&from=4
CLASS PERIOD: February 12, 2021 to November 17, 2022
ALLEGATIONS: The complaint alleges that
during the class period, Defendants issued materially false and/or
misleading statements and/or failed to disclose that: (1) the
Company had misrepresented the true educational background of its
former CEO, Yang Jie; 2)
Yang Jie had an outstanding arrest
warrant in China, had committed
forgery, and was the largest shareholder and VP of Finance for a
Nasdaq-listed lending company, China Commercial Credit ("CCC"),
which failed after reporting massive losses; (3) there existed
material related party transactions with SOS Information Technology
New York Inc. (where Jie's wife was Vice President) and Rich
Trading, whose CEO was defendant Lei Nie, the husband of
Singularity CFO Tuo Pan; (4)
Singularity director John Levy had
been a director at CCC from January
2013 through December 2016 as
CCC failed amidst detailed allegations that Jie, when he was an
executive and shareholder in CCC, misappropriated assets; (5) the
Company lacked adequate internal controls, and as a result had a
heightened risk of scrutiny and was ultimately subject to a
United States Attorney's Office
for the Southern District of New
York and SEC investigation and action as well as a potential
delisting by NASDAQ; and (6) as a result, the Company's statements
during the class period about the historical financial and
operational metrics and purported market opportunities did not
accurately reflect the actual business, operations, and financial
results and trajectory of the Company, and were materially false
and misleading and lacked a factual basis.
DEADLINE: February 7,
2023 Shareholders should not delay in registering for
this class action. Register your information here:
?id=34810&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you
register as a shareholder who purchased shares of SGLY during the
timeframe listed above, you will be enrolled in a portfolio
monitoring software to provide you with status updates throughout
the lifecycle of the case. The deadline to seek to be a lead
plaintiff is February 7, 2023. There
is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is
nationally recognized class action law firm, and our mission is to
protect the rights of all investors who have suffered as a result
of deceit, fraud, and illegal business practices. The Gross Law
Firm is committed to ensuring that companies adhere to responsible
business practices and engage in good corporate citizenship. The
firm seeks recovery on behalf of investors who incurred losses when
false and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
View original
content:https://www.prnewswire.com/news-releases/shareholder-alert-the-gross-law-firm-notifies-shareholders-of-singularity-future-technology-ltd-of-a-class-action-lawsuit-and-a-lead-plaintiff-deadline-of-february-7-2023--nasdaq-sgly-301707793.html
SOURCE The Gross Law Firm