An investigation for investors in Singularity Future Technology Ltd. (NASDAQ:SGLY) shares over potential securities laws violations by Singularity Future Technology Ltd. was announced.
San Diego, CA -- (SBWIRE) -- 05/17/2022 -- Singularity Future Technology Ltd is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Singularity Future Technology Ltd. (NASDAQ: SGLY), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Singularity Future Technology Ltd. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Great Neck, NY based Singularity Future Technology Ltd. develops solutions for interconnected AI networks in the revolutionized AI and Blockchain suppl management area and establishes crypto mining pools.
On May 3, 2022, Hindenburg Research released a short report regarding Singularity's management, operations, and business. The Hindenburg Research report stated that "Singularity's CEO, Yang Jie, is a fugitive on the run from Chinese authorities for running an alleged $300 million Ponzi scheme that lured in over 20,000 victims." Further claiming, "We see little evidence that Singularity's 'proprietary' crypto mining rigs ever existed in the first place. The photos and descriptions of Singularity's miners match precisely with another brand called KOI Miner."
Shares of Singularity Future Technology Ltd. (NASDAQ: SGLY) declined from $19.86 per share on April 7, 2022, to as low as $4.05 per share on May 9, 2022.
Those who purchased shares of Singularity Future Technology Ltd. (NASDAQ: SGLY) have certain options and should contact the Shareholders Foundation.
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