SAN DIEGO, Nov. 16, 2022 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP (www.JohnsonFistel.com) is investigating whether Singularity Future Technology Ltd. f/k/a Sino-Global Shipping America, Ltd. (NASDAQ: SGLY, SINO), any of its executive officers, or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors' losses and whether they may be recovered under federal securities laws.
What if I purchased Singularity common stock? If you purchased Singularity common stock and suffered significant losses on your investment, join our investigation now:
Click or paste the following web address into your browser to submit your losses:
https://www.johnsonfistel.com/investigations/singularity-future-technology-sgly
Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471
There is no cost or obligation to you.
What is Johnson Fistel investigating? On May 5, 2022, Hindenburg Research released a short report regarding Singularity’s management, operations, and business. The Hindenburg Research report stated that “Singularity’s CEO, Yang Jie, is a fugitive on the run from Chinese authorities for running an alleged $300 million Ponzi scheme that lured in over 20,000 victims.” Further claiming, “We see little evidence that Singularity’s “proprietary” crypto mining rigs ever existed in the first place. The photos and descriptions of Singularity’s miners match precisely with another brand called KOI Miner.”
On November 16, 2022, Singularity disclosed that “The Company has received subpoenas from the United States Attorney’s Office for the Southern District of New York and the United States Securities and Exchange Commission. The Company is complying with these subpoenas and fully cooperating with these governmental entities. Additionally, the special Committee of the Company’s Board of Directors is continuing to investigate the claims raised by Hindenburg Research on May 5, 2022 and other related matters.”
What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
Contact:
Johnson Fistel, LLP
Jim Baker, Lead Securities Analyst
Telephone: (619) 814-4471
Email: jimb@johnsonfistel.com
