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EH.US
id: 903
EHang (EH) Hindenburg's Fake Sales Report Case
C.D. California
Court2:23-cv-10165
Case number20 Jan 2022
Class period Start06 Nov 2023
Class period End02 Feb 2024
Lead Plaintiff motion deadline- 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.
Case Status
Lead Plaintiff Appointed
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