An investigation on behalf of investors in Greenpro Capital Corp. (NASDAQ:GRNQ) shares over potential wrongdoing at Greenpro Capital Corp. was announced.
San Diego, CA -- (SBWIRE) -- 08/17/2022 -- An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Greenpro Capital Corp.
Investors who purchased shares of Greenpro Capital Corp. (NASDAQ: GRNQ) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Greenpro Capital Corp. directors breached their fiduciary duties and caused damage to the company and its shareholders.
Malaysia based Greenpro Capital Corp. provides financial consulting and corporate services to small and medium-size businesses primarily in Hong Kong, Malaysia, and China. Greenpro Capital Corp. reported that its annual Total Revenue rose from $2.25 million in 2020 to $2.95 million in 2021, and that its Net Loss increased from $3.9 million in 2020, to $15.64 million in 2021.
On May 6, 2022, Greenpro Capital Corp. disclosed in a filing with the U.S. Securities and Exchange Commission ("SEC") that "[o]n March 25, 2022, the Company's management, together with the Audit Committee of the Board of Directors, made a determination that disclosure should be made and action should be taken to prevent further reliance on the Company's previously issued unaudited condensed consolidated financial statements for the three months ended March 31, 2021, June 30, 2021 and September 30, 2021 included in its Quarterly Reports on Form 10-Q (the "Form 10-Qs") filed with the [SEC] on May 17, 2021, August 10, 2021 and November 10, 2021, respectively." Specifically, Greenpro Capital Corp. stated that "[i]n the Form 10-Qs, the Company erroneously recorded the sale of one unit of real estate property in Hong Kong."
Shares of Greenpro Capital Corp. (NASDAQ: GRNQ) declined to $0.32 per share on May 10, 2022.
Those who purchased shares of Greenpro Capital Corp. (NASDAQ: GRNQ) have certain options and should contact the Shareholders Foundation.
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