BOSTON, MA / ACCESSWIRE / February 16, 2021 / Block & Leviton LLP (www.blockleviton.com), a national securities litigation firm, announces that it is investigating EHang Holdings Limited (NASDAQ:EH) for potential violations of the federal securities laws.
On February 16, 2021, analyst Wolfpack Research issued a scathing report concerning Ehang entitled: "EHang: A Stock Promotion Destined to Crash and Burn." In this report, Wolfpack Research called EHang "an elaborate stock promotion, built on largely fabricated revenues based on sham sales contracts . . . ." The report continued that "EH has perpetuated its story with a collection of lies about its products, manufacturing, revenues, partnerships, and potential regulatory approval of its purported main business." Wolfpack Research asserted that it "gathered extensive evidence including behind-the-scenes photographs, recorded phone calls, and videos of on-site visits to EH's various facilities." The market was stunned on this news, with shares down trading intraday as low as approximately 27% from the opening price.
Block & Leviton LLP (www.blockleviton.com) is investigating whether EHang and certain of its executives may be liable for securities fraud. If you purchased or acquired shares of EHang and have questions about your legal rights or possess information relevant to this investigation, please contact Block & Leviton attorneys at (617) 398-5600, via email at [email protected], or to visit our website for information on the case.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country's financial markets. The firm represents many of the nation's largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm's lawyers have recovered billions of dollars for its clients.
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SOURCE: Block & Leviton LLP