{"id":473149,"date":"2021-04-07T15:03:23","date_gmt":"2021-04-07T19:03:23","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=473149"},"modified":"2021-04-07T15:03:23","modified_gmt":"2021-04-07T19:03:23","slug":"bragar-eagel-squire-p-c-reminds-investors-that-class-action-lawsuits-have-been-filed-against-ehang-fubotv-jianpu-technology-and-ebix-encourages-investors-to-contact-the-firm","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bragar-eagel-squire-p-c-reminds-investors-that-class-action-lawsuits-have-been-filed-against-ehang-fubotv-jianpu-technology-and-ebix-encourages-investors-to-contact-the-firm\/","title":{"rendered":"Bragar Eagel &amp; Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against EHang, fuboTV, Jianpu Technology, and Ebix Encourages Investors to Contact the Firm"},"content":{"rendered":"<div class=\"mw_release\">\n<p>NEW YORK, April  07, 2021  (GLOBE NEWSWIRE) &#8212; Bragar Eagel &amp; Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of EHang Holdings Limited (NASDAQ: EH), fuboTV, Inc. (NYSE: FUBO), Jianpu Technology, Inc. (NYSE: JT), and Ebix, Inc. (NASDAQ: EBIX). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.<\/p>\n<p align=\"justify\">\n        <strong>Ehang Holdings Limited (NASDAQ: EH) <\/strong>\n      <\/p>\n<p align=\"justify\">Class Period: December 12, 2019 to February 16, 2021<\/p>\n<p align=\"justify\">Lead Plaintiff Deadline: April 19, 2021<\/p>\n<p align=\"justify\">On February 16, 2021, analyst Wolfpack Research published a scathing report entitled \u201cEHang: A Stock Promotion Destined to Crash and Burn.\u201d In this report, Wolfpack Research wrote 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. (\u201cKunxiang\u201d)] who appears to us to be more interested in helping inflate the value of its investment in EH . . . than about buying its products.\u201d Wolfpack Research wrote that it had \u201cgathered extensive evidence\u201d to support its report, \u201cincluding behind-the-scenes photographs, recorded phone calls, and videos of on-site visits to EH\u2019s various facilities . . . .\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 . . . . However, EH\u2019s constant stream of press releases are easily proven untrue.\u201d Finally, Wolfpack Research wrote that it \u201cobtained Chinese court records which show that EH\u2019s ADRs may already be in serious jeopardy due to legal issues in China.\u201d<\/p>\n<p align=\"justify\">On this news, the price of EHang\u2019s ADS fell from its February 12, 2021 close of $124.09 to a February 16, 2021 close of $46.30 per share, a one day drop of $77.79 per share or approximately 62.7%.<\/p>\n<p align=\"justify\">The complaint, filed on February 17, 2021, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company\u2019s business. Specifically, defendants made false and\/or misleading statements and\/or failed to disclose that: (i) the Company\u2019s purported regulatory approvals in Europe and North American for its EH216 were for use as a drone, and not for carrying passengers; (ii) its relationship with its purported primary customer is a sham; (iii) EHang has only collected on a fraction of its reported sales since its ADS began trading on NASDAQ in December 2019; (iv) the Company\u2019s manufacturing facilities were practically empty and lacked evidence of advanced manufacturing equipment or employees; and (v) as a result, the Company\u2019s public statements were materially false and misleading at all relevant times.<\/p>\n<p align=\"justify\">For more information on the Ehang class action go to: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=xm0vN_mibAFTUeVYweuYPG52PWTAdNwrRade0sakoYPbg-42-xv2Aujxo0fmGtJOWZFDcK7PfKUQC6VB3IbtKpnnMg3sVOFRYAlEYKhgYkU=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/bespc.com\/cases\/EH<\/a><\/p>\n<p align=\"justify\">\n        <strong>fuboTV, Inc. (NYSE: FUBO)<\/strong>\n      <\/p>\n<p align=\"justify\">Class Period: March 23, 2020 to January 4, 2021<\/p>\n<p align=\"justify\">Lead Plaintiff Deadline: April 19, 2021<\/p>\n<p align=\"justify\">The complaint, filed on February 17, 2021, alleges that during the Class Period defendants disseminated false and misleading statements that misrepresented Fubo\u2019s financial health and its operating condition. These misleading statements included representations relating to a variety of Fubo\u2019s business operations and performance metrics, including, among others, Fubo\u2019s ability to grow subscription levels and future profitability, seasonality factors, cost escalations and potentially shrinking addressable market, ability to attract and generate advertising revenue, the Company\u2019s valuation, and its prospects of entering the arena of online sports wagering.<\/p>\n<p align=\"justify\">Investors learned the truth gradually through a series of research reports beginning on December 23, 2020. Those reports revealed, among others things, that (i) Fubo\u2019s growth in subscriber and profitability was unsustainable past the one-time seasonal surge; (ii) Fubo\u2019s offering of products would be subject to cost escalation; (iii) Fubo could not successfully compete and perform as sports book operator and could not capitalize on its online sports wagering opportunity; (iv) Fubo\u2019s data and inventory was not differentiated to allow Fubo to achieve its long-term advertising growth goals; (v) Fubo\u2019s valuation was overstated in light of its total revenue and subscription levels; and (vi) the acquisition of Balto Sports did not provide the stated synergies and internal expertise, and did not expand the Company\u2019s addressable market into sports wagering.<\/p>\n<p align=\"justify\">Upon the publication of the research reports, the price of Fubo securities declined 54% from a close of $52.59 on December 23, 2020 to a close of $24.24 on January 4, 2021.<\/p>\n<p align=\"justify\">For more information on the fuboTV class action go to: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=xm0vN_mibAFTUeVYweuYPG52PWTAdNwrRade0sakoYNXULwOGIxE7bYxkmRYwGjCQRGVLIRzZ5vFHtwadowMq4p6AW968xWclazKh8AjR7w=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/bespc.com\/cases\/FUBO<\/a><\/p>\n<p align=\"justify\">\n        <strong>Jianpu Technology, Inc. (NYSE: JT) <\/strong>\n      <\/p>\n<p align=\"justify\">Class Period: May 29, 2018 to February 16, 2021<\/p>\n<p align=\"justify\">Lead Plaintiff Deadline: April 19, 2021<\/p>\n<p align=\"justify\">On February 16, 2021, Jianpu announced the results of its review into \u201ctransactions carried out by the Credit Card Recommendation Business Unit\u201d with third-party business entities. The Company concluded that previously reported revenue and associated expenses had been inflated due to \u201ccertain transactions [that] involved third-party agents (including both upstream agents and downstream suppliers) with undisclosed relationships and some transactions [that] lacked business substance.\u201d Jianpu stated that it \u201canticipates the total amount of overstated revenue for the fiscal years 2018 and 2019 to be approximately, RMB 90 million and RMB 164 million, respectively, representing approximately 4.5% and 10.1% of the total revenue previously reported.\u201d<\/p>\n<p align=\"justify\">On this news, the Company\u2019s share price fell $0.60, or 13%, to close at $3.94 per share on February 16, 2021.<\/p>\n<p align=\"justify\">The complaint, filed on February 17, 2021, 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: (1) that certain of the Company\u2019s transactions carried out by the Credit Card Recommendation Business Unit involved undisclosed relationships or lacked business substance; (2) that, as a result, Jianpu\u2019s revenue and costs and expenses for fiscal 2018 and 2019 were overstated; (3) that there were material weaknesses in Jianpu\u2019s internal control over financial reporting; (4) that, as a result of the foregoing, the Company\u2019s fiscal 2018 Form 20-F was reasonably likely to be restated; and (5) that, as a result of the foregoing, defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n<p align=\"justify\">For more information on the Jianpu Technology class action go to: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=xm0vN_mibAFTUeVYweuYPG52PWTAdNwrRade0sakoYOvnHtwDHzGFT8bBWTaY6KzHEjkjpoN7lPwZe5z9tv3HzGj1AgnyV_LWWK4dbhvtuk=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/bespc.com\/cases\/JT<\/a><\/p>\n<p align=\"justify\">\n        <strong>Ebix, Inc. (NASDAQ: EBIX) <\/strong>\n      <\/p>\n<p align=\"justify\">Class Period: November 9, 2020 to February 19, 2021<\/p>\n<p align=\"justify\">Lead Plaintiff Deadline: April 23, 2021<\/p>\n<p align=\"justify\">On February 19, 2021, after the market closed, Ebix revealed that its independent auditor, RSM US LLP (\u201cRSM\u201d), resigned \u201cas a result of being unable, despite repeated inquiries, to obtain sufficient appropriate audit evidence that would allow it to evaluate the business purpose of significant unusual transactions that occurred in the fourth quarter of 2020\u201d related to the Company\u2019s gift card business in India. RSM had also stated that there was a material weakness related to Ebix\u2019s failure to design controls \u201cover the gift or prepaid card revenue transaction cycle sufficient to prevent or detect a material misstatement.\u201d In addition, Ebix and RSM disagreed over the accounting treatment of $30 million that had been transferred into a commingled trust account of Ebix\u2019s outside legal counsel in December 2020.<\/p>\n<p align=\"justify\">On this news, the Company\u2019s share price fell as much as $20.24, or approximately 40%, to close at $30.50 on February 22, 2021.<\/p>\n<p align=\"justify\">The complaint, filed on February 22, 2021, 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: (1) that there was insufficient audit evidence to determine the business purpose of certain significant unusual transactions in Ebix\u2019s gift card business in India during the fourth quarter of 2020; (2) that there was a material weakness in Company\u2019s internal controls over the gift or prepaid revenue transaction cycle; and (3) that the Company\u2019s independent auditor was reasonably likely to resign over disagreements with Ebix regarding $30 million that had been transferred into a commingled trust account of Ebix\u2019s outside legal counsel; and (4) that, as a result of the foregoing, defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n<p align=\"justify\">For more information on the Ebix class action case go to: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=xm0vN_mibAFTUeVYweuYPG52PWTAdNwrRade0sakoYOy2jRSAwq_CMyIq5Mb0bVdmEZz7P54a0OMhmv46zjO5jy-wGgNRjx2-qk3Gu5NK1A=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/bespc.com\/cases\/EBIX<\/a><\/p>\n<p align=\"justify\">\n        <strong>About Bragar Eagel &amp; Squire, P.C.:<\/strong><br \/>\n        <br \/>Bragar Eagel &amp; Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=DVC907zR1lYlQCaJA1qToqYlwl13Y5pilPwG51YFB7XWzj2o6aaJFw7Z4x84RYYOmNVgbpDoF14hv7Y4ewxHtA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>www.bespc.com<\/u><\/a>. Attorney advertising. Prior results do not guarantee similar outcomes.<\/p>\n<p align=\"justify\">\n        <strong>Contact Information:<\/strong><br \/>\n        <br \/>Bragar Eagel &amp; Squire, P.C.<br \/>Brandon Walker, Esq. <br \/>Melissa Fortunato, Esq.<br \/>Marion Passmore, Esq.<br \/>(212) 355-4648<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=GyB6tJT5be6m7PlxMIcEPy77fLrMKCmd9sOd0TARg34EShQ_JHb7u-XhblKe9Lxp08w55YEEEf4rYX7oOu4z_W1HivkRCPf4eTcjxBIcaJU=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>investigations@bespc.com<\/u><\/a><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=DVC907zR1lYlQCaJA1qTonHUAm1p2wweS3UDRzWZeGP5ybrqinT9F3WPCC5a27eVSL1dtKeYrg-6yt8PnaQ6Jg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>www.bespc.com<\/u><\/a><\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMzA3NSM0MTEwMTYwIzIxMDAzOTg=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/71566eae-5aad-4d8d-8b2f-9783975cd9e8\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, April 07, 2021 (GLOBE NEWSWIRE) &#8212; Bragar Eagel &amp; Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of EHang Holdings Limited (NASDAQ: EH), fuboTV, Inc. (NYSE: FUBO), Jianpu Technology, Inc. (NYSE: JT), and Ebix, Inc. (NASDAQ: EBIX). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided. Ehang Holdings Limited (NASDAQ: EH) Class Period: December 12, 2019 to February 16, 2021 Lead Plaintiff Deadline: April 19, 2021 On February 16, 2021, analyst Wolfpack Research published a scathing report entitled \u201cEHang: A Stock Promotion Destined to Crash and Burn.\u201d &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bragar-eagel-squire-p-c-reminds-investors-that-class-action-lawsuits-have-been-filed-against-ehang-fubotv-jianpu-technology-and-ebix-encourages-investors-to-contact-the-firm\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Bragar Eagel &amp; Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against EHang, fuboTV, Jianpu Technology, and Ebix Encourages Investors to Contact the Firm&#8221;<\/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-473149","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bragar Eagel &amp; Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against EHang, fuboTV, Jianpu Technology, and Ebix Encourages Investors to Contact the Firm - 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\/bragar-eagel-squire-p-c-reminds-investors-that-class-action-lawsuits-have-been-filed-against-ehang-fubotv-jianpu-technology-and-ebix-encourages-investors-to-contact-the-firm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bragar Eagel &amp; Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against EHang, fuboTV, Jianpu Technology, and Ebix Encourages Investors to Contact the Firm - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, April 07, 2021 (GLOBE NEWSWIRE) &#8212; Bragar Eagel &amp; Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of EHang Holdings Limited (NASDAQ: EH), fuboTV, Inc. (NYSE: FUBO), Jianpu Technology, Inc. (NYSE: JT), and Ebix, Inc. (NASDAQ: EBIX). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided. Ehang Holdings Limited (NASDAQ: EH) Class Period: December 12, 2019 to February 16, 2021 Lead Plaintiff Deadline: April 19, 2021 On February 16, 2021, analyst Wolfpack Research published a scathing report entitled \u201cEHang: A Stock Promotion Destined to Crash and Burn.\u201d &hellip; Continue reading &quot;Bragar Eagel &amp; Squire, P.C. 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Reminds Investors That Class Action Lawsuits Have Been Filed Against EHang, fuboTV, Jianpu Technology, and Ebix Encourages Investors to Contact the Firm - Market Newsdesk","og_description":"NEW YORK, April 07, 2021 (GLOBE NEWSWIRE) &#8212; Bragar Eagel &amp; Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of EHang Holdings Limited (NASDAQ: EH), fuboTV, Inc. (NYSE: FUBO), Jianpu Technology, Inc. (NYSE: JT), and Ebix, Inc. (NASDAQ: EBIX). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided. Ehang Holdings Limited (NASDAQ: EH) Class Period: December 12, 2019 to February 16, 2021 Lead Plaintiff Deadline: April 19, 2021 On February 16, 2021, analyst Wolfpack Research published a scathing report entitled \u201cEHang: A Stock Promotion Destined to Crash and Burn.\u201d &hellip; Continue reading \"Bragar Eagel &amp; Squire, P.C. 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