OTC: EGRNF, EGRNY

China Evergrande Group

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, EGRNY) resulting from allegations that China Evergrande may have issued materially misleading business information to the investing public.

If you purchased China Evergrande securities and would like to join the action, please click “Join This Class Action.”

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.

Details of investigation:

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 detailed 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 securities was halted indefinitely.

 

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Company Name: China Evergrande Group
Stock Symbol: EGRNF
Class Period: N/A
Court: N/A

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