The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of investors who purchased Yangtze River Port and Logistics Limited (NASDAQGS: YRIV) securities between February 2, 2016 and December 5, 2018.
According to the Yangtze lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Yangtze’s purported lease of the Wuhan Yangtze River Newport Logistics Center, the Company’s main asset, was a fabrication; (2) Yangtze’s only operating subsidiary, Wuhan Newport, was declared insolvent in China due to a number of default judgments against it; and (3) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you suffered a loss in Yangtze you have until March 4, 2019 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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