INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Hebron Technology Co., Ltd. (HEBT) Investors

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Hebron Technology Co., Ltd. ("Hebron" or the "Company") (NASDAQ: HEBT ) securities between April 24, 2020 and June 3, 2020, inclusive (the Class Period).

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Wednesday, June 10, 2020
Information
Tags: 
Legal, Professional services, Hebron, Historical geography, Plaintiff, Jewish history, Human geography
Geotags: 
PENNSYLVANIA, United States
⚠generated by AI ↴
Summary
Key Points: 
  • Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Hebron Technology Co., Ltd. ("Hebron" or the "Company") (NASDAQ: HEBT ) securities between April 24, 2020 and June 3, 2020, inclusive (the Class Period).
  • Hebron investors have until August 10, 2020 to file a lead plaintiff motion.
  • Investors suffering losses on their Hebron investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected] .
  • This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Hebron Technology Co., Ltd. ("Hebron" or the "Company") (NASDAQ: HEBT) securities between April 24, 2020 and June 3, 2020, inclusive (the “Class Period”). Hebron investors have until August 10, 2020 to file a lead plaintiff motion.

Investors suffering losses on their Hebron investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].

On June 3, 2020, Grizzly Research presented a report alleging that Hebron is an “insider enrichment scheme without economic basis,” citing questionable transactions including an undisclosed related party transaction for nearly $26 million.

On this news, the Company’s share price fell $8.26, or nearly 37%, to close at $14.29 per share on June 3, 2020, on unusually heavy trading volume. The stock continued to decline the next trading session by $2.51, or nearly 18%, to close at $11.78 per share on June 4, 2020, on unusually heavy trading volume.

The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose: (1) that many of Hebron’s acquisitions, including Beijing Hengpu and Nami Holding (Cayman) Co., Ltd., involved undisclosed related parties; (2) that the Company’s disclosure controls regarding related party transactions was ineffective; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

If you purchased Hebron securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Copyright: 
Copyright Business Wire 2020