BENSALEM, Pa. -- (Business Wire)
Law Offices of Howard G. Smith announces that a class action lawsuit has
been filed on behalf of investors that purchased Fanhua Inc. (“Fanhua”
or the “Company”) (NASDAQ: FANH)
securities between April 20, 2018 and August 27, 2018, inclusive
(the “Class Period”). Fanhua investors have until November 6,
2018 to file a lead plaintiff motion.
Investors suffering losses on their Fanhua investments are encouraged to
contact the Law Offices of Howard G. Smith to discuss their legal rights
in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On August 27, 2018, stock analyst Seligman Investments published an
article labeling Fanhua a “questionable company” and detailed a history
of alleged fraud within the Company, including accounting irregularities
in the Company’s second quarter 2018 financial results. On this news,
Fanhua's share price fell $2.75 per share, or 10.52%, to close at $23.40
on August 27, 2018, thereby injuring investors.
The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and misleading statements
regarding the Company's business, operational and compliance policies.
Specifically, the complaint alleges that Defendants failed to disclose
that: (i) Fanhua engaged in improper business practices, including
irregular accounting; (ii) the foregoing practices were intended to
benefit Company insiders and overstated Fanhua's financial assets and
performance metrics; and (iii) as a result, Fanhua's public statements
were materially false and misleading at all relevant times.
If you purchased shares of Fanhua, have information or would like to
learn more about these claims, or have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by
telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181023006158/en/
Contacts:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Source: Law Offices of Howard G. Smith
© 2024 Canjex Publishing Ltd. All rights reserved.