(MENAFN- GlobeNewsWire - Nasdaq) NEW YORK, Dec. 22, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Ispire Technology Inc. (“Ispire” or the“Company”) (NASDAQ: ISPR). Such investors are advised to contact Danielle Peyton at ... or 646-581-9980, ext. 7980.
The investigation concerns whether Ispire and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On November 30, 2023, J Capital Research (“JCR”) published a report on Ispire entitled“Insider Enrichment Scheme Where ~30% of Revenue May Be Fabricated”. The JCR report alleged, among other things, that Ispire“appears to line its chairman's pockets by overpaying the Shenzhen factory he owns”; that“[o]riginal Chinese documents suggest . . . that a big chunk of supply may be fabricated”; and that“[o]ver 30% of sales are made by an undisclosed related-party - and we think a lot of those sales could be fake.”
On this news, Ispire's stock price fell $0.61 per share, or 5.56%, to close at $10.37 per share on November 30, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See .
CONTACT:
Danielle Peyton
Pomerantz LLP
...
646-581-9980 ext. 7980
Attorney advertising. Prior results do not guarantee similar outcomes.
MENAFN22122023004107003653ID1107650005
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.