The Thornton Law Firm alerts investors that a class action lawsuit has been filed on behalf of investors of EHang Holdings Limited (NASDAQ:EH).
The case is currently in the lead plaintiff stage. Investors who purchased EH stock or other securities between December 12, 2019, and February 16, 2021, may contact the Thornton Law Firm’s investor protection team by visiting www.tenlaw.com/cases/EHang to submit their information. Investors may also email [email protected] or call 617-531-3917.
The complaint alleges that EHang and its senior executives made misleading statements to investors and failed to disclose that: (i) EHang’s purported regulatory approvals in Europe and North America for its EH216 were for use as a drone, and not for carrying passengers; (ii) its relationship with its purported primary customer is a sham; (iii) EHang has only collected on a fraction of its reported sales since its ADS began trading on NASDAQ in December 2019; and (iv) EHang’s manufacturing facilities were practically empty and lacked evidence of advanced manufacturing equipment or employees.
Interested EHang investors have until April 19, 2021, to retain counsel and apply to be a lead plaintiff if they are interested to do so. Investors do not need to be a lead plaintiff in order to be a class member. A lead plaintiff acts on behalf of all other investor class members in managing the class action. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.
Thornton Law Firm’s securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.