New York, New York--(Newsfile Corp. - October 16, 2022) - Pomerantz LLP is investigating claims on behalf of investors of Singularity Future Technology Ltd. (NASDAQ: SGLY) ("Singularity" or the "Company"). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Singularity and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On October 7, 2022, post-market, Singularity issued a press release "announc[ing] . . . that on October 3, 2022, it received a notice (the 'Notice') from the Listing Qualifications Department of The Nasdaq Stock Market LLC ('Nasdaq') advising that the Company's securities would be subject to delisting unless the Company timely requests a hearing before a Nasdaq Hearings Panel (the 'Panel'). Accordingly, the Company intends to timely request a hearing before the Panel. The hearing request will stay any delisting or suspension action through October 25, 2022. Pursuant to the Nasdaq Listing Rules, in connection with the hearing request, the Company will request that the automatic stay be extended through the conclusion of the hearings process and the expiration of any additional extension period granted by the Panel following the hearing."
On this news, Singularity's stock price fell $0.18 cents per share, or 7.73% percent, to close at $2.15 per share on October 10, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
888-476-6529 ext. 7980
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/140722
Source: Pomerantz LLP