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Fanhua Investigation: Bernstein Liebhard LLP Announces Investigation Of Fanhua Inc. - FANH

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Fanhua Investigation: Bernstein Liebhard LLP Announces Investigation Of Fanhua Inc. - FANH

PR Newswire

NEW YORK, Aug. 27, 2018 /PRNewswire/ -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Fanhua Inc. ("Fanhua" or the "Company") (NASDAQ:FANH) resulting from allegations that Fanhua and/or its executives may have issued materially misleading business information to the investing public.

Bernstein Liebhard LLP.  (PRNewsFoto/Bernstein Liebhard LLP) (PRNewsfoto/Bernstein Liebhard LLP)

If you purchased Fanhua securities, and/or would like to discuss your legal rights and options, please visit Fanhua Shareholder Investigation or contact Daniel Sadeh toll free at (877) 779-1414 or dsadeh@bernlieb.com.

On August 27, 2018, Seeking Alpha published a report on Fanhua by Seligman Investments. The report stated that "[b]ased on due diligence of SAIC filings and other public information, we are deeply concerned about the company's business practices," further stating that "[o]ur concerns center on the following:

  • Transferring cash to insiders via related-party transactions;
  • Overstating the size of its operations;
  • Acquiring companies from undisclosed related parties in suspicious transactions;
  • Reporting questionable revenues and earnings, with sharply elevated receivables to a firm not disclosed as a related party;
  • Discrepancies between earnings and cash flows;
  • Involvement with individuals who have been sanctioned by regulators in Hong Kong or who are linked to companies with histories of embezzlement, de-listing, bankruptcy, or SEC prosecution;
  • High dependence on questionable partners/customers, in this case ones that are a focus of regulatory action in China."

On this news, Fanhua's stock fell sharply during intra-day trading on August 27, 2018.

If you purchased Fanhua securities, and/or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/fanhua-inc-fanh-lawsuit-class-action-fraud-stock-78/ mailto:or contact Daniel Sadeh toll free at (877) 779-1414 or dsadeh@bernlieb.com.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2018 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin.  Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information
Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com  
(877) 779-1414
dsadeh@bernlieb.com

 

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SOURCE Bernstein Liebhard LLP

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