{"id":446374,"date":"2021-02-26T17:24:11","date_gmt":"2021-02-26T22:24:11","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=446374"},"modified":"2021-02-26T17:24:11","modified_gmt":"2021-02-26T22:24:11","slug":"investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ehang-holdings-limited-and-encourages-investors-to-contact-the-firm-before-april-19-2021","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ehang-holdings-limited-and-encourages-investors-to-contact-the-firm-before-april-19-2021\/","title":{"rendered":"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against EHang Holdings Limited and Encourages Investors to Contact the Firm Before April 19, 2021"},"content":{"rendered":"

<\/p>\n

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against EHang Holdings Limited and Encourages Investors to Contact the Firm Before April 19, 2021<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nThe law firm of Kirby McInerney LLP<\/a> reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired EHang Holdings Limited (\u201cEHang\u201d or the \u201cCompany\u201d) (NASDAQ: EH<\/a>) securities from December 12, 2019 through February 16, 2021, inclusive (the \u201cClass Period\u201d). Investors have until April 19, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.\n<\/p>\n

\nOn February 16, 2021, analyst Wolfpack Research published a research report entitled \u201cEHang: A Stock Promotion Destined to Crash and Burn.\u201d Citing \u201cextensive evidence\u201d including \u201cbehind-the-scenes photographs, recorded phone calls, and videos of on-site visits to EH\u2019s various facilities,\u201d the report alleged that EHang is \u201can elaborate stock promotion, built on largely fabricated revenues based on sham sales contracts with a customer [Shanghai Kunxiang Intelligent Technology Co., Ltd.] who appears to us to be more interested in helping inflate the value of its investment in EH\u2026than about buying its products.\u201d Wolfpack Research also noted that \u201cin just 14 months as a publicly traded company, EH\u2019s PR team has put out 50 press releases\u2026However, EH\u2019s constant stream of press releases are easily proven untrue.\u201d Finally, the report alleged that Wolfpack Research \u201cobtained Chinese court records which show that EH\u2019s ADRs may already be in serious jeopardy due to legal issues in China.\u201d\n<\/p>\n

\nOn this news, the Company\u2019s share price fell $77.79, or approximately 62.7%, to close at $46.30 per share on February 16, 2021, thereby injuring investors.\n<\/p>\n

\nThe lawsuit filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company\u2019s purported regulatory approvals in Europe and North America for its EH216 were for use as a drone, and not for carrying passengers; (2) its relationship with its purported primary customer is a sham; (3) EHang has only collected on a fraction of its reported sales since its ADS began trading on NASDAQ in December 2019; (4) the Company\u2019s manufacturing facilities were practically empty and lacked evidence of advanced manufacturing equipment or employees; and (5) as a result, Defendants\u2019 statements about its business, operations, and prospects were materially false and misleading and\/or lacked reasonable basis at all relevant times.\n<\/p>\n

\nIf you purchased or otherwise acquired EHang securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod<\/a> of Kirby McInerney LLP<\/a> at 212-371-6600, by email at investigations@kmllp.com<\/a>, or by filling out this contact form<\/a>, to discuss your rights or interests with respect to these matters without any cost to you.\n<\/p>\n

Kirby McInerney LLP<\/a> is a New York-based plaintiffs\u2019 law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm\u2019s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP\u2019s website: http:\/\/www.kmllp.com<\/a>.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210226005686\/en\/<\/a><\/span><\/p>\n

\nKirby McInerney LLP
\n
Thomas W. Elrod, Esq.
\n
212-371-6600
\n
https:\/\/www.kmllp.com
\n<\/a>
investigations@kmllp.com<\/a><\/p>\n

KEYWORDS:<\/b> New York United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against EHang Holdings Limited and Encourages Investors to Contact the Firm Before April 19, 2021 NEW YORK–(BUSINESS WIRE)– The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired EHang Holdings Limited (\u201cEHang\u201d or the \u201cCompany\u201d) (NASDAQ: EH) securities from December 12, 2019 through February 16, 2021, inclusive (the \u201cClass Period\u201d). Investors have until April 19, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. On February 16, 2021, analyst Wolfpack Research published a research … <\/p>\n

Continue reading “INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against EHang Holdings Limited and Encourages Investors to Contact the Firm Before April 19, 2021”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-446374","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nINVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against EHang Holdings Limited and Encourages Investors to Contact the Firm Before April 19, 2021 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-ehang-holdings-limited-and-encourages-investors-to-contact-the-firm-before-april-19-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against EHang Holdings Limited and Encourages Investors to Contact the Firm Before April 19, 2021 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against EHang Holdings Limited and Encourages Investors to Contact the Firm Before April 19, 2021 NEW YORK–(BUSINESS WIRE)– The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired EHang Holdings Limited (\u201cEHang\u201d or the \u201cCompany\u201d) (NASDAQ: EH) securities from December 12, 2019 through February 16, 2021, inclusive (the \u201cClass Period\u201d). Investors have until April 19, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. 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Investors have until April 19, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. 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