NEW YORK, June 11, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors Hebron Technology Co. (“Hebron” or the “Company”) (NASDAQ: HEBT). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Hebron and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On June 3, 2020, the investment analyst firm Grizzly Research published a report, entitled “We Believe Hebron Technology Co., Ltd. (HEBT) is an Insider Enrichment Scheme without Economic Basis.” According to the report, Hebron “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 this news, Hebron’s stock price fell $8.26 per share, or 36.63%, to close at $14.29 per share on June 3, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm 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 numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.