NEW YORK, Sept. 06, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Singularity Future Technology Ltd. NICEPhathom Pharmaceuticals, Inc. FATEyePoint Pharmaceuticals, Inc. EYPTand Olo, Inc. OLO. Our investigations address whether these companies have violated federal securities laws and/or engaged in other illegal business practices. For more information on each case, see the link provided.
Singularity Future Technology Ltd. NICE
On May 5, 2022, Hindenburg Research (“Hindenburg”) released a report titled “Singularity Future Technology: The CEO of this Nasdaq-listed company is a fugitive, on the run for allegedly running a massive Ponzi scheme.” The Hindenburg Report claimed, among other things, that “Singularity CEO Yang Jie is a fugitive on the run from Chinese authorities for running an alleged $300 million Ponzi scheme that has attracted over 20,000 victims has” and “meanwhile fled to the USA”. 28 other people involved in the case were sentenced to between 6 months and 15 years in prison.” The Hindenburg Report went on to claim that “the singularity is massive [cryptocurrency] Mining rig deal appears to be a “brazen undisclosed related party deal” and the “[w]We see little evidence that Singularity’s “proprietary” crypto mining rigs ever existed. The photos and descriptions of Singularity’s miners exactly match those of another brand called KOI Miner.”
As a result of this news, Singularity’s stock price fell $1.95 per share, or 28.89%, to close at $4.80 per share on May 5, 2022.
For more information on investigating the singularity, see: https://bespc.com/cases/SGLY
Phathom Pharmaceuticals, Inc. FAT
On August 2, 2022, prior to the close of trading, Phathom issued a press release titled, “Phathom Pharmaceuticals Reports Second Quarter 2022 Financial Results and Provides Business Updates,” announcing that “we have detected traces of…
