LOS ANGELES, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Investors can contact the law firm at no cost to learn more about recovering their losses
The Portnoy Law Firm advises EHang Holdings Limited (“EHang” or the “Company”) (NASDAQ: EH) investors that the law firm has initiated an investigation on behalf of investors that lost money on their EHang stock. EHang investors are encouraged to contact the firm to discuss their legal rights.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On November 7, 2023, a report from Hindenburg Research surfaced with several accusations against EHang. Key among these was the claim that EHang had not fully disclosed to investors the extensive flight restrictions on its recently certified technology, which purportedly undermines many of its proposed commercial applications. These restrictions include prohibitions on flying in densely populated areas, shared airspace, and beyond the visual line of sight of ground personnel. The report further alleged that, apart from promotional activities, EHang lacks a functional website and tangible evidence of aviation operations under its Prestige Aviation brand, aside from a photoshoot purportedly featuring a jet with a digitally added EHang logo. The report starkly labeled the Company as a potential hazard, posing risks to both investors and passengers.
Following the release of this report, EHang's stock value dropped significantly, decreasing by $1.90 or 12.7%, and closed at $13.07 per share on the same day, leading to financial losses for its investors.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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