An investigation for investors in Cango Inc. (NYSE: CANG) shares over potential securities laws violations by Cango Inc. was announced.
San Diego, CA -- (SBWIRE) -- 04/17/2019 -- An investigation was announced over potential securities laws violations by Cango Inc. and certain of its directors and officers in connection with certain financial statements.
Investors who purchased shares of Cango Inc. (NYSE: CANG), 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 focuses on whether a series of statements by Cango Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Shanghai, China based Cango Inc. operates an automotive transaction service platform that connects dealers, financial institutions, car buyers, and other industry participants in the People's Republic of China. Cango Inc. reported that its annual Total Revenue rose from 434.27 million CNY in 2016 to over 1.05 billion CNY in 2017 and that its Net Income increased from 128.9 million CNY in 2016 to 341 million CNY in 2017.
Cango Inc. went public in July 2018 and sold 4million ADRs at $11.00 per share. Since the initial public offering shares of Cango Inc. (NYSE: CANG) declined to as low as $6.66 per share on March 29, 2019
Those who purchased shares of Cango Inc. (NYSE: CANG) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.