San Diego, CA -- (SBWIRE) -- 01/25/2022 -- Agrify Corporation is under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of Agrify Corporation (NASDAQ: AGFY), 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 focuses on whether a series of statements by Agrify Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Burlington, MA based Agrify Corporation develops precision hardware and software grow solutions for the indoor agriculture marketplace primarily in the United States.

On December 16, 2021, Bonitas Research, a short seller, released a report alleging multiple problems with Agrify Corporation. The allegations include that "We believe that Agrify created artificial demand for its product by financing undisclosed Company insiders to act as independent customers." Further stating, "after its January 2021 IPO, Agrify's shares soared amongst a wave of sales announcements to alleged independent third party licensed commercial growers via new total turnkey partnerships ('TTK Partnerships')." The report added, "the TTK Partnerships use Agrify's balance sheet to finance the construction of the customer's facility, equipment sales and installations, which suggests to us that Agrify's recorded revenues are artificially inflated by loan balances from Agrify to TTK Partnership customers."

Those who purchased shares of Agrify Corporation (NASDAQ: AGFY) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
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.