China Evergrande Group (EGRNF)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of China Evergrande Group (“Evergrande” or “the Company”) (OTCMKTS: EGRNF). Investors who purchased Evergrande securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Evergrande has violated federal securities laws.
On September 18, 2021, The Wall Street Journal published an article entitled “How Beijing’s Debt Clampdown Shook the Foundation of a Real-Estate Colossus: China Evergrande’s looming collapse and its ripple effect on the economy will pose a test for the government’s campaign to keep housing affordable for the masses” which stated, among other things, that “[t]he party has ended. Years of aggressive borrowing have collided with Beijing’s crackdown on debt, leaving [China Evergrande] on the brink of collapse.” On this news, Evergrande’s stock price fell $0.08 per share, or 18%, to close at $0.327 per share on September 20, 2021. Then, on September 28, 2023, Reuters published an article entitled “Evergrande says chairman under investigation over suspected ‘illegal crimes’”, which reported how trading in China Evergrande had been suspended after a report that its chairman had been placed under police watch. On this news, trading in Evergrande’s shares was halted indefinitely.
If you are aware of any facts relating to this investigation or purchased Evergrande securities, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
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Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
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