NEW
YORK, Feb. 1, 2023 /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:
https://securitiesclasslaw.com/securities/singularity-future-technology-ltd-loss-submission-form/?id=36069&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:
https://securitiesclasslaw.com/securities/singularity-future-technology-ltd-loss-submission-form/?id=36069&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
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SOURCE The Gross Law Firm