Ehang Holdings Limited
Lead Plaintiff Deadline: 04/19/2021
SUMMARY OF CASE:
A securities class action has been filed against Ehang Holdings Limited (EH) on behalf of all purchasers of the Company’s securities between December 12, 2019 through February 16, 2021. This case has been filed in the USDC – S.D.N.Y.
The Complaint alleges that the Company made false and misleading statements to the market. EHang’s approvals in North America and Europe for the EH216 were for use as a drone and not as a passenger vehicle. The Company’s purported relationship with its primary customer is in fact fraudulent. In fact, the Company has only collected on a small fraction of its reported sales since December 2019. The Company’s manufacturing facilities appeared empty, lacking both advanced manufacturing equipment and employees. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about EHang, investors suffered damages.