NEW YORK, NY / ACCESSWIRE / January 14, 2021 / Pomerantz LLP is investigating claims on behalf of investors of CBAK Energy Technology, Inc. ("CBAK" the "Company") (NASDAQ:CBAT). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether CBAK and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On December 18, 2020, J Capital Research ("J Capital") published a report entitled "The Undead: Why China BAK Has Zero Value". The J Capital report asserted that CBAK "has all the hallmarks of a Chinese fraud." Specifically, J Capital noted that while CBAK "claims to be an [electric vehicle] company," "[a]ctually, it makes AA-size batteries for small appliances." J Capital further asserted that it had "contacted the auto companies [CBAK] claims are big clients, and they denied they do business with" CBAK." The J Capital report concluded that CBAK artificially inflates its balance sheet with phony construction accounts and inflates its reported revenues through fake sales.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm 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 numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP