NEW YORK, Jan. 6, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of EHang Holdings Ltd. (“EHang” or the “Company”) (NASDAQ: EH). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether EHang and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 7, 2023, before the market opened, Hindenburg Research (“Hindenburg”) released a report entitled “Ehang: Hollow Order Book And Fake Sales Make This China-Based eVTOL Company Last in Line For Takeoff” (the “Hindenburg Report”). The Hindenburg Report contained a number of allegations regarding the Company’s business, operations, and prospects, accusing EHang of having a misleading order book that is largely based on “dead” or “abandoned” deals and questioning the Company’s valuation.
On this news, EHang’s stock price fell $1.90 per share, or 12.7%, to close at $13.06 per share on November 7, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
