The Shareholders Foundation announces that an investor in NASDAQ:WINS shares filed a lawsuit against Wins Finance Holdings Inc over alleged Securities Laws violations in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Wins Finance Holdings Inc (NASDAQ:WINS) have certain options and for certain investors are short and strict deadlines running. Deadline: June 5, 2017. NASDAQ:WINS investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Wins Finance Holdings Inc (NASDAQ:WINS) common shares between October 29, 2015 and March 29, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 29, 2015 and March 29, 2017 Wins Finance Holdings Inc made materially false and/or misleading statements regarding its projected earnings, valuation, and future business operations in order to artificially inflate the price of Wins Finance Holdings Inc (NASDAQ:WINS) securities.
Among other allegations, it is alleged that Wins Finance Holdings Inc falsely stated it maintained a U.S. headquarters in order to gain inclusion on the Russell indices when, in fact, its headquarters are located in China, and that Wins management overstated its value and engaged in other market manipulations between October 29, 2015 and March 29, 2017.
New York based, Wins Finance Holdings Inc. is an investment and asset management company, and is an integrated lending solution provider serving small-and-medium sized enterprises in Jinzhong City, Shanxi Province and Beijing, China. Shares of Wins Finance Holdings Inc (NASDAQ:WINS) reached as high as $190.24 per share in early December 2016.
On December 9, 2016, an analyst published a report calling into question Wins Finance Holdings Inc’s management’s past actions, and providing evidence suggesting that Wins Finance Holdings Inc may be the subject of paid stock promotions.
On December 12, 2016, another report by the same analyst was published that a site visit to Wins Finance Holdings Inc’s purported headquarters had revealed that Wins Finance Holdings Inc did not have offices there, suggesting that Wins Finance Holdings Inc may have misled investors about its business operations.
On March 30, 2017, an article was published stating that the U.S. Securities and Exchange Commission is actively investigating Wins Finance Holdings Inc. for alleged “market manipulation.” Additionally, the article stated that Wins Finance Holdings Inc. had tricked the Russell Index into “including WINS based on its Home Country Indicator Test.”
Those who purchased NASDAQ:WINS shares have certain options and should contact the Shareholders Foundation.
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