San Diego, CA -- (SBWire) -- 06/24/2022 --An investigation was announced over potential breaches of fiduciary duties by certain directors at Singularity Future Technology Ltd.
Investors who purchased shares of Singularity Future Technology Ltd. (NASDAQ: SGLY) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Singularity Future Technology Ltd. directors breached their fiduciary duties and caused damage to the company and its shareholders.
Great Neck, NY based Singularity Future Technology Ltd. develops solutions for interconnected AI networks in the revolutionized AI and Blockchain suppl management area and establishes crypto mining pools. On May 3, 2022, Hindenburg Research released a short report regarding Singularity's management, operations, and business. The Hindenburg Research report stated 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." Further claiming, "We see little evidence that Singularity's 'proprietary' crypto mining rigs ever existed in the first place. The photos and descriptions of Singularity's miners match precisely with another brand called KOI Miner."
Shares of Singularity Future Technology Ltd. (NASDAQ: SGLY) declined from $19.86 per share on April 7, 2022, to as low as $4.05 per share on May 9, 2022.
Those who purchased shares of Singularity Future Technology Ltd. (NASDAQ: SGLY) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NASDAQ:SGLY Investor Alert: Investigation over Possible Breaches of Fiduciary Duties at Singularity Future Technology Ltd.
An investigation on behalf of investors in Singularity Future Technology Ltd. (NASDAQ:SGLY) shares over potential wrongdoing at Singularity Future Technology Ltd. was announced.