NEW YORK–(BUSINESS WIRE)–Bragar Eagel & Squire, P.C., a nationally acknowledged shareholder rights legislation agency, is investigating potential claims towards CBAK Power Expertise, Inc. (NASDAQ: CBAT) on behalf of CBAK stockholders. Our investigation issues whether or not CBAK has violated the federal securities legal guidelines and/or engaged in different illegal enterprise practices.
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On December 18, 2020, J Capital Analysis (“J Capital”) revealed a report entitled “The Undead: Why China BAK Has Zero Worth”. The J Capital report asserted that CBAK “has all of the hallmarks of a Chinese language fraud.” Particularly, J Capital famous that whereas CBAK “claims to be an [electric vehicle] firm,” “[a]ctually, it makes AA-size batteries for small home equipment.” J Capital additional asserted that it had “contacted the auto firms [CBAK] claims are large purchasers, they usually denied they do enterprise with CBAK.”
The J Capital report concluded that CBAK artificially inflates its steadiness sheet with phony building accounts and inflates its reported revenues by pretend gross sales.
In case you bought or in any other case acquired CBAK shares and suffered a loss, are a long-term stockholder, have info, wish to be taught extra about these claims, or have any questions regarding this announcement or your rights or pursuits with respect to those issues, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by electronic mail at email@example.com, or phone at (212) 355-4648, or by filling out this contact form. There isn’t any value or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally acknowledged legislation agency with workplaces in New York, California, and South Carolina. The agency represents particular person and institutional buyers in industrial, securities, spinoff, and different complicated litigation in state and federal courts throughout the nation. For extra details about the agency, please go to www.bespc.com. Lawyer promoting. Prior outcomes don’t assure related outcomes.