Nasdaq-delisted crypto company Eqonex is the subject of several Class Action lawsuits. Most recently, we reported on Rosen Law‘s class action against the firm, its partner Binance, and its founder and CEO Changpeng Zhao. Another U.S. law firm, Schall Law, a shareholder rights litigation firm, invited Eqonex investors to join a class action lawsuit against Eqonex over alleged violations of the U.S. Securities Exchange Act.
Investors who purchased the Company’s securities in the Class Period between March 7, 2022, and November 29, 2022, to contact the firm before June 19, 2023 ( click here to participate).
According to the complaint, Eqonex made false and misleading statements to the market. The crypto company allegedly failed to deploy resources to strengthen its technology. Moreover, Eqonex purportedly had no way to pay its affiliated company Bifinity based on its loan agreement. Bitfinity and Binance did not plan to consummate a merger with the company. Based on these facts, Eqonex‘s public statements were false and materially misleading throughout the class period. When the market learned the truth about Eqonex, investors suffered damages.
