Singularity Future Technology, Ltd. Investigation
The law firm of Kirby McInerney LLP is investigating potential claims against Singularity Future Technology, Ltd. (“Singularity” or the “Company”) (NASDAQ: SGLY). The investigation concerns whether Singularity and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
Singularity is a global logistics and ship management services company.
On November 16, 2022, before market hours, Singularity disclosed that, “[t]he 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.” On this news, the price of Singularity shares declined by $0.48 per share, or approximately 18.68%, from $2.57 per share to close at $2.09 on November 16, 2022.