The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Ideanomics, Inc. (NASDAQ: IDEX) securities between March 20, 2020 and June 25, 2020.
According to the Ideanomics lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Ideanomics’ Mobile Energy Global Division in Qingdao, China (the "MEG Center") was not “a one million square foot EV expo center” as the Company had stated in press releases; (ii) the Company had been using doctored or altered photographs of the purported MEG Center in Qingdao; (iii) the Company’s electric vehicle business in China was not performing nearly as strongly as Ideanomics had represented; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in Ideanomics you have until August 27, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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