SAN DIEGO–(BUSINESS WIRE)–$YRIV #China—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.
Haeggquist & Eck is investigating whether certain members of Yangtze’s Board of Directors (the “Board”) failed to disclose material information, including whether: (1) Yangtze fabricated the lease of Wuhan Newport, its main asset and only operating subsidiary; (2) Wuhan Newport was declared insolvent in China due to numerous default judgments against it; and (3) as a result, Yangtze’s statements about its business, operations, and prospects were materially false and misleading.
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.
What You Can Do
If you are a Yangtze shareholder, you may have legal claims against its directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Amber Eck at 619-342-8000 or e-mail her at [email protected]. There is no cost or obligation to you.
Haeggquist & Eck, LLP is a nationally recognized leader in shareholder rights law. The firm represents individual investors in shareholder derivative lawsuits, and members of the firm have helped shareholders recover more than $1 billion of value for themselves and the companies in which they have invested.
This release constitutes attorney advertising. Past results do not guarantee a similar outcome.
Haeggquist & Eck, LLP
Amber Eck, [email protected]