An investigation for investors in Moxian, Inc. (NASDAQ: MOXC) shares over potential securities laws violations by Moxian, Inc.
An investigation was announced concerning potential securities laws violations by Moxian, Inc. in connection with certain financial statements.
Investors who purchased shares of Moxian, Inc. (NASDAQ: MOXC), have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 – 1554.
The investigation by a law firm focuses on whether a series of statements by Moxian, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Hong Kong based Moxian, Inc. operates a social network platform that integrates social media and business into a single platform in China. Moxian, Inc. reported that its annual Total Revenue rose from $370.41 million for the 12 months period that ended on September 30, 2019 to $946.46 million for the 12 months period that ended on September 30, 2020, and that its Net INcome over those respective time periods declined from $200.45 million to $72.71 million.
On July 26, 2021, Wolf Pack Research published a short-seller report on Moxian, Inc.. In the report, Wolf Pack alleged that “MOXC’s main operating subsidiary in China, Moxian (Shenzhen), and its purported VIE, [variable interest entity, a structure commonly used by China-based, U.S.-listed companies] Moyi Shenzhen, do not even have the licenses required to operate an online advertising business in China: MOXC claims that Moxian Technology (Shenzhen) Co., Ltd. (‘Moxian Shenzhen’) is its main operating entity in China, selling online advertising services in China to foreign companies through its purported VIE, Shenzhen Moyi Technologies Co. Ltd. (‘Moyi Shenzhen’).”
Shares of Moxian, Inc. (NASDAQ: MOXC) declined from $31.38 per share on July 12, 2021, to as low as $12.40 per share on July 27, 2021.
Those who purchased shares of Moxian, Inc. (NASDAQ: MOXC) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North
San Diego, CA 92108
E-Mail: [email protected]
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
This release was published on openPR.