NEW YORK, June 02, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Wunong Net Technology Company Limited (“Wunong” or the “Company”) (NASDAQ: WNW). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Wunong and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 19, 2021, Wunong issued a press release “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.” Wunong advised investors 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 this news, Wunong’s stock price fell $0.48 or 6.43%, to close at $6.98 on May 20, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
