A lawsuit was filed on behalf of investors in Yangtze River Port and Logistics Limited (NASDAQ: YRIV) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 01/15/2019 -- An investor, who purchased shares of Yangtze River Port and Logistics Limited (NASDAQ: YRIV), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Yangtze River Port and Logistics Limited in connection with certain allegedly false and misleading statements.
Investors in shares of Yangtze River Port and Logistics Limited (NASDAQ: YRIV) should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
New York based Yangtze River Port and Logistics Limited, through its subsidiary, Wuhan Yangtze River Newport Logistics Co., Ltd., primarily engages in the real estate and infrastructural development business in the People's Republic of China.
On December 6, 2018, a report was published entitled "Yangtze River Port & Logistics: Total Zero. On-the-Ground Research Shows Assets Appear to be Largely Fabricated." The report described the Company as "a scheme run by its Chairman & controlling shareholder to siphon money away from U.S. public markets." Shares of Yangtze River Port and Logistics Limited (NASDAQ: YRIV) declined to as low as $3.62 per share on December 14, 2018.
The plaintiff claims that between February 2, 2016 and December 5, 2018, the defendants made false and/or misleading statements and/or failed to disclose that Yangtze's purported lease of the Wuhan Yangtze River Newport Logistics Center, the company's main asset, was a fabrication, that Yangtze's only operating subsidiary, Wuhan Yangtze River Newport Logistics Co., Ltd., was declared insolvent in China due to a number of default judgments against it, and that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times
Those who purchased shares of Yangtze River Port and Logistics Limited (NASDAQ: YRIV) have certain options and should contact the Shareholders Foundation.
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.
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