New York, New York--(Newsfile Corp. - October 9, 2023) - WHY: Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of China Evergrande Group (OTC: EGRNF) (OTC: EGRNY) resulting from allegations that China Evergrande may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased China Evergrande securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=2513 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
WHAT IS THIS ABOUT: On September 18, 2021, The Wall Street Journal published an article entitled "How Beijing's Debt Clampdown Shook the Foundation of a Real-Estate Colossus: China Evergrande's looming collapse and its ripple effect on the economy will pose a test for the government's campaign to keep housing affordable for the masses" which stated, among other things, that "[t]he party has ended. Years of aggressive borrowing have collided with Beijing's crackdown on debt, leaving [China Evergrande] on the brink of collapse."
On this news, EGRNF fell around $0.08 per share, or 18%, on the next trading day, September 20, 2021, on unusually heavy trading volume, damaging investors.
Then, on September 28, 2023, Reuters published an article entitled "Evergrande says chairman under investigation over suspected 'illegal crimes'", which reported how trading in China Evergrande had been suspended after a report that its chairman had been placed under police watch.
On this news, trading in China Evergrande's shares were halted indefinitely.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
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Attorney Advertising. Prior results do not guarantee a similar outcome.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183420