Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
SGLY.US
id: 497
Claims vs. Singularity raised by Hindenburg Research Case
E.D. New York
Court22-CV-07499
Case number02/12/2021
Class period Start11/17/2022
Class period EndOn November 16, 2022, Singularity Future Technology Ltd. (SGLY) disclosed that “The Company has received subpoenas from the US Attorney’s Office for the Southern District of New York and the SEC. The Company is complying with these subpoenas and fully cooperating with these governmental entities. Additionally, the Special Committee of the Company’s Board of Directors is continuing to investigate the claims raised by Hindenburg Research on May 5, 2022, and other related matters.”
On this news, Singularity’s stock prices plunged 18%, seriously damaging investors.
Going back in May 2022, Hindenburg released a report highlighting concerns with Singularity's CEO Yang Jie and alleging that the crypto-mining-related company has no "actual business operations." SGLY has a market cap of about $133 million.
Investors have now reasons to suspect multiple violations against shareholders.
Case Status
Case Discovery
Alleged Offence
Mismanagement,
Fraud,
Failure to Disclose,
Malpractice,
Negligence,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management,
Shareholder,
Investment Bank,
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
11/16/2022
Filing date
12/09/2022