BOSTON, June 04, 2020 (GLOBE NEWSWIRE) -- On June 3, 2020, analyst Grizzly Research published a scathing report alleging that China-based Hebron Technology Co., Ltd. (NASDAQ: HEBT) is an “insider enrichment scheme without economic basis.” In its report, Grizzly Research cited questionable transactions including an undisclosed related-party transaction or nearly $26 million. The report further stated “we believe HEBT is a stock manipulation scheme that engaged in undisclosed related party acquisitions and undisclosed private placement transactions that have artificially inflated the stock price.”
On the publication of the Grizzly Research report, shares of HEBT have fallen from their June 2, 2020 closing price of $22.55 per share to below $12.00 per share, a drop of approximately 48%.
Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, has launched an investigation into whether HEBT and certain of its executives may be liable for potential securities fraud.
If you purchased or acquired shares of HEBT and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, via email at email@example.com, or at https://shareholder.law/cases/?case=hebt.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
This notice may constitute attorney advertising.