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SGLY.US

Claims vs. Singularity raised by Hindenburg Research Case

On November 16, 2022, Singularity Future Technology Ltd. (SGLY) disclosed that “The Company has received subpoenas from the US Attorney’s Office for the Southern District of New York and the SEC. The Company is complying with these subpoenas and fully cooperating with these governmental entities. Additionally, the Special Committee of the Company’s Board of Directors is continuing to investigate the claims raised by Hindenburg Research on May 5, 2022, and other related matters.”

On this news, Singularity’s stock prices plunged 18%, seriously damaging investors.

Going back in May 2022, Hindenburg released a report highlighting concerns with Singularity's CEO Yang Jie and alleging that the crypto-mining-related company has no "actual business operations." SGLY has a market cap of about $133 million.

Investors have now reasons to suspect multiple violations against shareholders.
Alleged Offence
Mismanagement
Fraud
Failure to Disclose
Malpractice
Negligence
Breach of Fiduciary duty
Omissions
Suspected Party
Directors
Management
Shareholder
Investment Bank
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
16 November 2022
Collecting participants…
Created by Stan Vick, Scout

Singularity Future Technology Ltd

Singularity Future Technology Ltd. operates as an integrated logistics solutions provider in China and the United States. It offers freight logistics services, including shipping, transportation, w...

    Ticker
    SGLY.US
    ISIN
    US82935V2088
    CIK
    1422892
    Sector
    Industrials
    Industry
    Integrated Freight & Logistics
    Country
    USA
    Address
    98 Cutter Mill Road, Great Neck, NY, United States, 11021