BENSALEM, Pennsylvania., January 7, 2022 / PRNewswire / – Law firms of Howard G. Smith announces that investors with substantial losses have the opportunity to pursue the Securities Fraud Class Action Against Tenet Fintech Group Inc. f / k / a Peak Fintech Group Inc. (“Tenet” or the “Company”), (OTC: PKKFF, NASDAQ: TNT).
Class period: September 2, 2021 – October 13, 2021
Lead Applicant Deadline: January 18, 2022
Investors experiencing losses on their Tenet investments are encouraged to contact the law firms of Howard G. Smith to discuss their legal rights in this class action lawsuit at 888-638-4847 or by email at [email protected]
The filed complaint alleges that, throughout the Class Period, the Defendants failed to disclose to investors that: (1) the Company did not own 51% of CBSA through Wuxi Aorong; (2) the Company did not disclose its beneficial ownership structure to the CBSA, an undisclosed and potentially problematic nominee shareholders agreement; (3) Huayan did not own the Heartbeat platform; (4) the Heartbeat platform did not exist prior to the alleged acquisition; (5) the Company was facing imminent delisting from the NASDAQ due to non-compliance with known regulations; (6) the “recent disclosure guidelines” were in fact published on November 23, 2020, nearly nine full months before the Company’s listing on the stock market; (7) as such, the Company knew or should have known that its submission of Form 40-F was deficient; (8) Cubeler has still not succeeded in repaying the minimum loan to the Company; (9) the Company, instead of exercising its right to the assets, has decided to buy Cubeler; (10) in light of the foregoing, and taking into account the fact that Cubeler is owned by several insiders of the Company, the acquisition of Cubeler is not based on legitimate business interests; CBSA’s largest shareholder has seen its assets frozen due to legal sanctions; (11) the creation of the CBSA itself was likely a related party transaction; and (12) Because of the foregoing, the defendants’ public statements were substantially false and / or misleading at all material times.
To be a member of the class action, you do not need to take any action at this time; you can retain the services of a lawyer of your choice or take no action and remain an absent member of the class action. If you would like to know more about this class action, or if you have any questions regarding this announcement or your rights or interests in relation to the current class action, please contact Howard G. Smith, squire, law firms from Howard G. Smith, 3070 Bristol Pike, office 112, Bensalem, Pennsylvania 19020, by phone at (215) 638-4847, toll free at (888) 638-4847, or by email at [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered an attorney’s advertisement in certain jurisdictions under applicable law and ethical rules.
Law firms of Howard G. Smith
Howard G. Smith, squire
SOURCE Law firms of Howard G. Smith