Haeggquist & Eck, LLP, a leading shareholder rights litigation firm, is investigating whether certain directors and officers of Yangtze River Port and Logistics Limited ("Yangtze" or the "Company") (NASDAQ:YRIV) breached their fiduciary duties to the Company and its shareholders. If you are a Yangtze shareholder, you are encouraged to contact Amber Eck at Haeggquist & Eck for additional information.
Yangtze is a U.S.-based company. Through its subsidiaries it primarily engages in the business of real estate and infrastructural development. The company operates its business in China and generates most of the revenue from China.
On August 27, 2018, Barron's published, "A Troubled Chinese Company Is Seeking a Lifeline From U.S. Investors," revealing that Wuhan Newport was "showing up on official websites in which Chinese courts list debtors with unpaid legal judgments." On this news, Yangtze stock dropped.
On December 6, 2018, Hindenburg Research published a report, entitled "Yangtze River Port & Logistics: Total Zero. On-the-Ground Research Shows Assets Appear to be Largely Fabricated," which caused Yangtze stock to fall $3.34/share – over 28% – over the next two trading days to close at $8.28/share on December 7, 2018.
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