SAN FRANCISCO, Jan. 8, 2021 /PRNewswire/ — Hagens Berman notifies buyers in CBAK Power Expertise, Inc. (NASDAQ: CBAT) of the agency’s investigation into attainable securities regulation violations. Sure buyers with losses might have useful claims and are inspired to submit their losses now. The agency additionally encourages individuals who might be able to help the investigation to contact the agency.
CBAK Power Expertise, Inc. (CBAT) Investigation:
The investigation facilities on whether or not CBAK Power misled buyers concerning the firm’s battery expertise and monetary efficiency.
Extra particularly, on Dec. 18, 2020, market analyst J Capital Analysis printed a scathing report titled “The Undead: Why China BAK Has Zero Worth.”
In line with J Cap, “CBAT has all of the hallmarks of a Chinese language fraud.” Amongst different issues, JCAP observes “CBAT claims to be an EV firm,” “[a]ctually, it makes AA-size batteries for small home equipment,” and “[w]e contacted the auto corporations CBAT claims are huge shoppers, they usually denied they do enterprise with CBAT.” The report additionally concludes CBAK Power artificially inflates stability sheet with phony building accounts and inflates 50% of its revenues by way of faux gross sales.
“We’re centered on investor losses and whether or not CBAK has cooked its books,” stated Reed Kathrein, the Hagens Berman associate main the investigation.
If you’re a CBAK Power investor or have info which will help our investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Individuals with personal info concerning CBAK Power ought to take into account their choices to assist in the investigation or benefit from the SEC Whistleblower program. Below the brand new program, whistleblowers who present unique info might obtain rewards totaling as much as 30 p.c of any profitable restoration made by the SEC. For extra info, name Reed Kathrein at 844-916-0895 or electronic mail [email protected].
About Hagens Berman
Hagens Berman is a nationwide regulation agency with 9 places of work in eight cities across the nation and eighty attorneys. The agency represents buyers, whistleblowers, employees and shoppers in complicated litigation. Extra concerning the agency and its successes is situated at hbsslaw.com. For the newest information go to our newsroom or comply with us on Twitter at @classactionlaw.
Reed Kathrein, 844-916-0895
SOURCE Hagens Berman Sobol Shapiro LLP