NEW YORK, Jan. 9, 2023 /PRNewswire/ —
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Singularity Future Technology Ltd. f/k/a Sino-Global Shipping America Ltd. (NASDAQ:SGLY) between February 12, 2021 and November 17, 2022both dates inclusive (the “Class Period”), of the important February 7, 2023 lead plaintiff deadline in securities class action commenced by the Firm.
SO WHAT: If you purchased Singularity securities during the Class Period, you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Singularity class action, go to https://rosenlegal.com/submit-form/?case_id=9855 or call Philip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move to Court no later than February 7, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen who refer clients or partners with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose: (1) Singularity’s former Chief Executive Officer (“CEO”) Yang Jie’s true educational background, that he had an outstanding arrest warrant in China, committed forgery, was the largest shareholder and Vice President of Finance, for a Nasdaq-listed lending company, China Commercial Credit (“CCC”), which failed after reporting massive losses; (2) material related party transactions with SOS Information Technology New York Inc. (“SOS”) (where Jie’s wife was Vice President) and Rich Trading Co. Ltd USA (“Rich Trading”); (3) independent directors John Levy’s long tenure as a director of CCC; (4) the Company lacked adequate internal controls and as a result had a heightened risk of scrutiny and ultimately was subject to a United States Attorney’s Office for the Southern District of New York and SEC investigation and action as well as a potential delisting by NASDAQ; and as a result (5) the Company’s statements during the Class Period about the historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of Singularity, and were materially false and misleading, and lacking a factual basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Singularity class action, go to https://rosenlegal.com/submit-form/?case_id=9855 or call Philip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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Laurence Rosen, Esq.
Philip Kim, Esq.
The Rosen Law Firm, PA
275 Madison Avenue, 40th floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
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