Zhuhai Yibang Pharmaceutical Co., Ltd.

SAN FRANCISCO, May 23, 2021 (GLOBE NEWSWIRE) -- Hagens Berman urges Ebang International Holdings (NASDAQ: EBON) investors with significant losses to submit your losses now. The firm is investigating possible securities fraud and certain investors may have valuable claims. Class Period: June 26, 2020 – Apr. 5, 2021Lead Plaintiff Deadline: June 7, 2021Visit: Contact An Attorney Now: EBON@hbsslaw.com 844-916-0895 Ebang International Holdings (NASDAQ: EBON) Securities Class Action: The investigation focuses on the accuracy of Ebang’s statements concerning its use of capital raised from investors and its claim to be a leading manufacturer of bitcoin mining machines. More specifically, over the past year, Ebang raised approximately $374 million from investors in public offerings and represented it would use these proceeds to “further expand our operations” in cryptocurrency mining, exchange platforms, and general corporate purposes. These statements were brought into question on Apr. 6, 2021, when analyst Hindenburg Research published a scathing report entitled “Ebang: Yet Another Crypto ‘China Hustle’ Absconding With U.S. Investor Cash.” According to Hindenburg, the company directed much of the cash out of the company through a series of opaque deals with entities linked to Ebang’s Chairman/CEO and its underwriter.   Specifically, Hindenburg concludes the company directed (1) $103 million into bond purchases linked to its underwriter which has a track record of fraud allegations levied against it, and (2) $21 million to a relative of its Chairman/CEO coincident with raising that amount from investors. Hindenburg also concludes Ebang is not a leading bitcoin mining machine producer, only sold a pittance compared to other large Chinese producers, and is slated for a 97% decline in such sales for FY 2020. In response, the price of Ebang shares declined sharply. “We’re focused on investors’ losses and whether Ebang lied to investors about its true operations and use of capital,” said Reed Kathrein, the Hagens Berman partner leading the investigation. If you are an Ebang investor and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman. Whistleblowers: Persons with non-public information regarding Ebang should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email EBON@hbsslaw.com. About Hagens BermanHagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation.   More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw. Contact: Reed Kathrein, 844-916-0895

NEW YORK, May 12, 2021 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating claims of violations of federal securities laws on behalf of investors of Ebang International Holdings Inc. (“Ebang” or the “Company”) (NASDAQ: EBON). If you are a shareholder of Ebang with more than $200,000 in losses, you should contact the Firm. On April 6, 2021, before the market opened, Hindenburg Research published a report alleging, among other things, that Ebang is directing proceeds from its initial public offering last year into a “series of opaque deals with insiders and questionable counterparties.” According to the report, Ebang raised $21 million in November 2020, claiming the proceeds would go “primarily for development,” and that instead the funds were directed to repay related-party loans to a relative of Ebang’s Chief Executive Officer, Dong Hu. The report also noted that Ebang’s earlier efforts to go public on the Hong Kong Stock Exchange had failed due to widespread media coverage of a sales inflation scheme with Yindou, a Chinese peer-to-peer online lending platform that defrauded 20,000 retail investors in 2018, with $655 million “vanish[ing] into thin air.” On this news, Ebang’s share price fell approximately 13%. Later that day after the market close, Ebang issued a statement representing that, though it believed the report “contain[ed] many errors, unsupported speculations and inaccurate interpretations of events,” the “Board, together with its Audit Committee, intends to further review and examine the allegations and misinformation therein and will take whatever necessary and appropriate actions may be required to protect the interest of its shareholders.” On this news, Ebang’s share price fell an additional 2%, further damaging investors. The Ebang class action lawsuit alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) the proceeds from Ebang’s public offerings had been directed to related parties rather than used to develop Ebang’s operations; (ii) Ebang’s sales were declining and Ebang had inflated reported sales, including through the sale of defective units; (iii) Ebang’s attempts to go public in Hong Kong had failed due to allegations of embezzling investor funds and inflated sales figures; (iv) Ebang’s purported cryptocurrency exchange was merely the purchase of an out-of-the-box crypto exchange; and (v) as a result, defendants’ positive statements about Ebang’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. If you are a shareholder of Ebang who purchased Ebang securities between June 26, 2020 and April 5, 2021, inclusive, you have until June 7, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. To participate, learn more, or discuss the issues surrounding the investigation, please contact our attorneys at (914) 733-7256 or via email at investigations@lowey.com. Whistleblowers: Persons with non-public information regarding Ebang should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. About Lowey Dannenberg Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors. Contact Lowey Dannenberg P.C.44 South Broadway, Suite 1100 White Plains, NY 10601Tel: (914) 733-7256Email: investigations@lowey.com