Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Yangtze River Port and
Logistics Limited Investors (YRIV)
Glancy Prongay & Murray LLP (“GPM”), a global investors rights law firm, announces that a class action lawsuit has
been filed on behalf of investors that purchased or otherwise acquired Yangtze River Port and Logistics Limited (“Yangtze River” or
the “Company”) (NASDAQ: YRIV)
securities between February 2, 2016 and December 5, 2018, inclusive (the ''Class Period''). Yangtze River investors have
until March 4, 2019 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to
participate.
On December 6, 2018, Hindenburg Research published a report describing the Company as “a scheme run by its Chairman &
controlling shareholder to siphon money away from U.S. public markets.” On this news, shares of Yangtze River fell $1.71, or 17%,
to close at $8.28 on December 7, 2018, thereby injuring investors.
The complaint filed in this class action alleges that 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 Yangtze River Newport Logistics Co., Ltd., 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. When the true details
entered the market, the lawsuit claims that investors suffered damages.
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If you purchased shares of Yangtze River during the Class Period you may move the Court no later than March 4,
2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this
time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn
more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to
these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at
310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at
www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com
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