NEW YORK, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against Yangtze River Port and Logistics Limited (NASDAQ: YRIV). Our investigation concerns whether Yangtze has violated the federal securities laws and/or engaged in other unlawful business practices.
On December 6, 2018, Hindenburg Research published a report entitled “Yangtze River Port & Logistics: Total Zero. On-the-Ground Research Shows Assets Appear to be Largely Fabricated.” The Hindenburg report described Yangtze as “a scheme run by its Chairman & controlling shareholder to siphon money away from U.S. public markets.” Among other allegations, the Hindenburg report asserted that Yangtze’s “only operating entity has been declared insolvent in China and is involved in multiple undisclosed legal proceedings” and, citing “government-sourced documents and interviews with local officials, we believe that at least 77% of the company’s reported assets are fabricated.”
On this news, Yangtze’s share price fell by more than 28%, closing at $8.28 per share on December 7, 2018.
If you purchased or otherwise acquired Yangtze shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into Yangtze please go to http://www.bespc.com/yriv/. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com