Press release
Lawsuit filed for Investors who lost money with shares of Future FinTech Group Inc. (NASDAQ: FTFT)
A lawsuit was filed on behalf of investors in Future FinTech Group Inc. (NASDAQ: FTFT) shares.
Investors who purchased shares of Future FinTech Group Inc. (NASDAQ: FTFT) have certain options and for certain investors are short and strict deadlines running. Deadline: March 18, 2024. NASDAQ: FTFT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
New York based Future FinTech Group Inc., through its subsidiaries, operates online shopping platforms in People's Republic of China. On January 11, 2024, after market hours, the Securities and Exchange Commission ("SEC") announced that it had charged Future FinTech's CEO, Sanchun Huang, with "manipulative trading" and "buying hundreds of thousands of Future FinTech shares to artificially increase the company's stock price shortly before and after he became CEO."
Shares of Future FinTech Group Inc. (NASDAQ: FTFT) declined from $2.6 per share on December 29, 2023, to as low as $0.81 per share on January 17, 2024.
The plaintiff claims that between March 10, 2020 and January 11, 2024, the defendants made materially false and/or misleading statements and/or failed to disclose that Defendant Shanchun Huang manipulated the price of Future FinTech stock, that Defendant Huang and Future FinTech lied to the Securities and Exchange Commission about the nature of Defendant Huang's ownership of Future FinTech stock, that Future FinTech understated its legal risk, that Future FinTech did not disclose the unlawful measures Defendant Huang took to prop up the price of its stock, 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 Future FinTech Group Inc. (NASDAQ: FTFT) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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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