HEBRON TECHNOLOGY CO., LTD., SHAREHOLDERS HAVE AN OPPORTUNITY TO RECOVER THEIR INVESTMENT LOSSES CLICK HERE TO VIEW THE FIRM RÉSUMÉ OF BERNSTEIN LIEBHARD LLP.
Hebron Technology Co., Ltd.,
New York, New York — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action has been filed on behalf of investors that purchased or acquired the securities of Hebron Technology Co., Ltd., (“Hebron” or the “Company”) (NASDAQ:HEBT) between April 24, 2020 and June 3, 2020(the “Class Period”).
If you purchased Hebron securities and/or would like to discuss your legal rights and options please click “Join Class Action” above.
New York, New York — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action has been filed on behalf of investors that purchased or acquired the securities of Hebron Technology Co., Ltd., (“Hebron” or the “Company”) (NASDAQ:HEBT) between April 24, 2020 and June 3, 2020(the “Class Period”). The lawsuit filed in the United States District Court for the Southern District of New York alleges violations of the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and prospects. Specifically, 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.
On June 3, 2020, Siegfried Eggert, CEO of 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 1%, to close at $11.78 per share on June 4, 2020, on unusually heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than August 10, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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