The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Eastern District of New York on behalf of shareholders of Tenet Fintech Group Inc. who purchased shares between September 2, 2021 and October 13, 2021.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that:
(1) the Company did not own 51% of Asia Synergy Financial Capital Ltd. (“ASFC”) through Wuxi Aorong; (2) the Company did not disclose its actual ownership structure of ASFC, an undisclosed and potentially problematic nominee shareholder agreement; (3) Huayan did not own the Heartbeat platform; (4) the Heartbeat platform did not exist prior to the alleged acquisition; (5) the Company faced imminent delisting from NASDAQ due to non-compliance with known regulations; and (6) as a result of the foregoing, defendants’ public statements were materially false and/or misleading at all relevant times.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until January 18, 2022 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.