NEW YORK, May 17, 2022 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Singularity Future Technology Ltd ("Singularity” or the "Company") (NASDAQ: SGLY).
On May 5, 2022, Hindenburg Research (Hindenburg) published a report alleging that Singularity is “an extremely obvious total scam, with little to no actual business operations.” The Hindenburg report also alleges, among other things, that Singularity’s CEO, Yang Jie, is a fugitive on the run from Chinese authorities for running an alleged $300 million Ponzi scheme that lured in over 20,000 victims and that Singularity’s massive cryptocurrency mining rig deal appears to be a brazen undisclosed related party deal.
On this news, Singularity’s stock price fell $1.95 per share, or nearly 29%, to close at $4.80 per share on May 5, 2022.
If you purchased or otherwise acquired Singularity securities and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this investigation, your rights, or your interests, please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: dhall@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
