Investors with over $720 in losses are encouraged to contact the firm before June 7, 2021; click here to submit trade information LOS ANGELES, June 06,.
Reconnaissance Energy Africa Ltd. Investors: Company Investigated by the Portnoy Law Firm
May 25, 2021 08:00 ET | Source: Portnoy Law Portnoy Law Los Angeles, California, UNITED STATES
Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, May 25, 2021 (GLOBE NEWSWIRE)
The Portnoy Law Firm advises Reconnaissance Energy Africa Ltd. ( ReconAfrica or the Company ) (OTC: RECAF) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney
email: lesley@portnoylaw.com, to discuss their legal rights, or
click here to join the case via
Analyst Hindenburg Research published a report on April 6, 2021, alleging the Chinese cryptocurrency company is directing proceeds from its IPO last year into a series of opaque deals with insiders and questionable counterparties. Ebang raised $21 million in November 2020, According to the report, stating that the proceeds would go primarily for development, and that $21 million was allegedly directed to repay related-party loans to a relative of the company s Chairman/CEO Dong Hu. It was also noted in this report that Ebang s earlier efforts to go public on the Hong Kong Stock Exchange failed as a result, to widespread media coverage of its relationship with Yindou, a Chinese peer-to-peer online lending scheme that defrauded 20,000 retail investors in 2018, with $655 million vanish(ing) into thin air . On April 6, 2021, share price fell $0.82, or approximately 13%, on this news, to close at $5.53 per share thereby injuring investors.