NEW YORK, NY / ACCESSWIRE / September 10, 2019 / Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Ideanomics, Inc. (NASDAQ:IDEX) from May 15, 2017 through November 13, 2018, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Ideanomics investors under the federal securities laws..
To join the class action, go to http://pawarlawgroup.com/cases/ideanomics-inc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 17, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) costs associated with building out Ideanomics’ U.S. infrastructure and hiring its new executive team were negatively impacting the Company’s bottom line performance; (2) as a result, Ideanomics was highly unlikely to meet its 2018 EBITDA guidance; (3) Ideanomics’ margins in its oil trading and consumer electronics businesses were too low for those businesses to remain viable; (4) as a result, defendants’ statements about Ideanomics’ business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.
Pawar Law Group represents investors from around the world.
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Contact:
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
[email protected]
SOURCE: Pawar Law Group