Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
SGLY.US
id: 497, Created by Stan Vick, Scout
Claims vs. Singularity raised by Hindenburg Research Case
What do I get by joining?
- You will get case updates and receive a payout in case of success
- If you would like to actively participate, you will be connected to the attorney
- No, you do not pay anything out of your pocket neither to us nor to attorney
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