NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 19, 2021 to file lead plaintiff applications in a securities class action lawsuit against EHang Holdings Limited (NasdaqGM: EH), if they purchased the Company’s American depositary shares (“ADS”) between December 12, 2019 and February 16, 2021 (and on February 16, 2021, only for those who purchased shares at or above the price of $112.00), inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased ADS of EHang and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nasdaqgm-eh/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 19, 2021.
About the Lawsuit
EHang and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 16, 2021, Wolfpack Research reported that, based on “extensive evidence…including behind-the-scenes photographs, recorded phone calls, and videos of on-site visits to EH’s various facilities,” the Company is “an elaborate stock promotion, built on largely fabricated revenues based on sham sales contracts with a customer who appears to us to be more interested in helping inflate the value of its investment in EH…than actually buying its products” and that it “has perpetuated its story with a collection of lies about its products, manufacturing, revenues, partnerships, and potential regulatory approval of its purported main business.”
On this news, the price of EHang’s shares plummeted to a close of $46.30 per share, a one day drop of $77.79 per share or approximately 62.7%.
The case is Amberber v. EHang Holdings Limited, et al., No. 1:21-cv-01392.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.