BENSALEM, Pa.–(BUSINESS WIRE)–$IDEX #fraud–Law Offices of Howard G. Smith announces an investigation on behalf of Ideanomics, Inc. (“Ideanomics” or the “Company”) (NASDAQ: IDEX) investors concerning the Company and its officers’ possible violations of federal securities laws.
On June 25, 2020, Hindenburg Research issued a series of tweets stating that Ideanomics “is an egregious & obvious fraud.” Hindenburg claimed that it found evidence that Ideanomics “doctored photos in its PR to suggest it owns/operates” a facility. Hindenburg further stated that it had an investigator who visited Ideanomics’ “supposed MEG sales center,” and that the “facility is actually operated by almost 100 sales groups,” that had never heard of Ideanomics. Additionally, Hindenburg claimed that its investigator called five of Ideanomics’ purported electric vehicle customers, and that none were aware of Ideanomics, nor could they confirm doing business with Ideanomics.
On this news, the Company’s share price fell $0.65, or more than 21%, to close at $2.44 per share on June 25, 2020, thereby injuring investors.
If you purchased Ideanomics securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com
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