LOS ANGELES, May 27, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Wunong Net Technology Company Limited ("Wunong" or the "Company") (NASDAQ: WNW) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Wunong issued a press release on May 19, 2021 “announc[ing] that it received written notification on May 18, 2021, from The Nasdaq Stock Market LLC that it no longer complies with Listing Rule 5250(c)(1) for continued listing in that it has failed to file its annual report on Form 20-F for the year ended December 31, 2020.” Investors were advised by Wunong that “[t]he Company is working aggressively to complete its audit and file its annual report on Form 20-F by June 30, 2021 and accordingly, regain compliance with the Nasdaq Rules ahead of the deadline to submit its plan to regain compliance.”
On May 20, 2021, Wunong’s stock price fell $0.48 or 6.43%, on this news, to close at $6.98.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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