NEW YORK, Nov. 14, 2023 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP is investigating potential claims against EHang Holdings Limited (“EHang” or the “Company”) (NASDAQ: EH). The investigation concerns whether EHang and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
On November 7, 2023, Hindenburg Research published a report alleging 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, the price of EHang shares declined by $1.90 per share, or approximately 12.7%, from $14.96 per share to close at $13.06 on November 7, 2023.
If you purchased or otherwise acquired EHang securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: https://www.kmllp.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
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