BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Ideanomics Inc. (“Ideanomics” or the “Company”) (NASDAQ: IDEX) investors concerning the Company and its officers’ possible violations of federal securities laws.
On November 14, 2018, the Company announced that it would “phase out [its] oil trading and consumer electronics businesses, with the intention to fully divest these assets in the near future.” It also disclosed that it did “not anticipate meeting [its] EBITDA guidance of $35 million for fiscal year 2019” due to “costs associated with building out [its] U.S. infrastructure and hiring [its] new executive team.”
On this news, the Company’s share price fell $1.59, or more than 48%, to close at $1.67 on November 14, 2018, thereby injuring investors.
If you purchased Ideanomics securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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