INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against Yangtze River Port & Logistics Limited
NEW YORK--(BUSINESS WIRE)--Dec 29, 2018--The law firm of Kirby McInerney LLP is investigating potential claims against Yangtze River Port & Logistics Limited (“Yangtze” or the “Company”) (NASDAQ: YRIV ). This investigation concerns whether Yangtze has violated federal securities laws and/or engaged in other unlawful business practices.
On December 6, 2018, Hindenburg Research (“Hindenburg”) published a report that described Yangtze as “a scheme run by its Chairman & controlling shareholder to siphon money away from U.S. public markets.” Among other allegations, the Hindenburg report asserted that Yangtze’s “only operating entity has been declared insolvent in China and is involved in multiple undisclosed legal proceedings.” Based on “government-sourced documents and interviews with local officials,” they “believe that at least 77% of the company’s reported assets are fabricated.”
On this news, Yangtze’s shares fell $3.34, or 28.74%, over the following two trading sessions, closing at $8.28 on December 7, 2018.
If you acquired Yangtze securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181229005007/en/
CONTACT: Kirby McInerney LLP
Thomas W. Elrod, Esq., (212) 371-6600
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Kirby McInerney LLP
Copyright Business Wire 2018.
PUB: 12/29/2018 12:41 PM/DISC: 12/29/2018 12:41 PM