NEW YORK, NY / ACCESSWIRE / October 13, 2023 / Pomerantz LLP is investigating claims on behalf of investors of Freedom Holding Corp. ("Freedom" or the "Company") (NASDAQ:FRHC). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Freedom and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 15, 2023, Hindenburg Research ("Hindenburg" published a short report entitled "Freedom Holding Corp: Brazen Sanctions Evasion, Hallmarks Of Fabricated Revenue and Risky Bets with Commingled Customer Funds". Citing "a review of extensive international corporate and regulatory records, interviews with former employees and industry analysis, the Hindenburg report described "a laundry list of red flags including evidence that Freedom (i) brazenly skirts sanctions (ii) shows hallmark signs of fake revenue (iii) commingles customer funds then gambles assets in highly levered, illiquid, risky market bets (iv) and displays signs of market manipulation in both its investments and its publicly traded shares."
On this news, Freedom's stock price fell $2.44 per share, or 3.22%, to close at $73.27 per share on August 15, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, 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 billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
SOURCE: Pomerantz LLP
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