NEW YORK, March 01, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group reminds shareholders who purchased shares of Yangtze River Port and Logistics Limited (NASDAQ: YRIV) from February 2, 2016 through December 5, 2018, inclusive (the “Class Period”) of the important March 4, 2019 lead plaintiff deadline in the class action. The lawsuit seeks to recover damages for Yangtze River investors under the federal securities laws.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) Yangtze’s purported lease of the Wuhan Yangtze River Newport Logistics Center, the company’s main asset, was a fabrication; (2) Yangtze’s only operating subsidiary, Wuhan Yangtze River Newport Logistics Co., Ltd., was declared insolvent in China due to a number of default judgments against it; and (3) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.
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