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EH.US

EHang (EH) Hindenburg's Fake Sales Report Case

C.D. California
Court
2:23-cv-10165
Case number
20 Jan 2022
Class period Start
06 Nov 2023
Class period End
  • Hindenburg in its report exposed EHang manipulating orders & sales figures.
  • On it, $EH fell 12.7%, losing $114M of shareholder value.
  • One of the damaged investors already filed the initial claim over potential fraud in California.
On November 7, 2023, Hindenburg Research released a report “EHang: Hollow Order Book and Fake Sales Make This China-Based eVTOL Company Last In Line For Takeoff.”

The report stated, "92+% of EHang’s claimed 1,300+ unit preorder book is based on ‘dead’ or ‘abandoned’ deals, failed partnerships, and newly-formed customer entities with no discernible operations.”

On this news, $EH fell 12.7% and lost over $110 million of market capitalization, damaging ADS holders.

Considering the stated facts, Investors have reasons to suspect EHang of fraud which led to their losses. One of the $EH investors has already filed the initial claim in California.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Fraud
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Service Provider
Security Type
Depository Securities (ADS, ADR, GDR)
Trade Direction
Long
Shock Event Date
07 November 2023
Filing date
04 December 2023
Lead Plaintiff Deadline
02 February 2024
Collecting participants…
Created by Stan Vick, Scout

Ehang Holdings Ltd

EHang Holdings Limited operates as an autonomous aerial vehicle (AAV) technology platform company in the People's Republic of China, East Asia, West Asia, Europe, and internationally. It designs, d...

    Ticker
    EH.US
    ISIN
    US26853E1029
    Sector
    Industrials
    Industry
    Aerospace & Defense
    Country
    USA
    Address
    Building one, Guangzhou, China, 510700