BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of EHang Holdings Limited (“EHang” or the “Company”) (NASDAQ: EH) investors concerning the Company’s possible violations of federal securities laws.
On November 7, 2023, Hindenburg Research published a report alleging, among other things, that “EHang’s much-touted, recently granted certification comes with numerous flight restrictions that it has failed to fully disclose to investors,” and that the restrictions “invalidate the bulk of its potential commercial use cases, including restrictions against flying in densely populated areas, in shared airspace, and out of sight of a ground crew.” Additionally, the report claimed that outside of promotional events, EHang has “no website and zero evidence of any aviation operations for Prestige Aviation except for a photoshoot where it appears to have photoshopped its logo onto a rented jet” and that the Company is “a fatal accident waiting to happen, both for investors and for passengers.”
On this news, EHang’s stock price fell $1.90, or 12.7%, to close at $13.07 on November 7, 2023, thereby injuring investors.
If you purchased EHang 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 firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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