Yangtze River Port and Logistics Limited (NASDAQ: YRIV) Investor Securities Class Action Lawsuit 01/02/2019

If you purchased a significant amount of shares of Yangtze River Port and Logistics Limited (NASDAQ: YRIV) between February 2, 2016 and December 5, 2018, and / or if you purchased any NASDAQ: YRIV shares prior to February 2016 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: March 4, 2019. NASDAQ: YRIV investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Yangtze River Port and Logistics
Case Name: 
Yangtze River Port and Logistics Shareholder Class Action Lawsuit 01/02/2019
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: YRIV
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
01/02/2019
Class Period Begin: 
02/02/2016
Class Period End: 
12/05/2018
Court of Filing: 
U.S. District Court for the Eastern District of New York
Deadline To File for Lead: 
03/04/2019
Summary: 

An investor in shares of Yangtze River Port and Logistics Limited (NASDAQ: YRIV) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Yangtze River Port and Logistics Limited in connection with certain allegedly false and misleading statements made between February 2, 2016 and December 5, 2018.

New York based Yangtze River Port and Logistics Limited, through its subsidiary, Wuhan Yangtze River Newport Logistics Co., Ltd., primarily engages in the real estate and infrastructural development business in the People's Republic of China.

On December 6, 2018, a report was published entitled "Yangtze River Port & Logistics: Total Zero. On-the-Ground Research Shows Assets Appear to be Largely Fabricated." The report described the Company as "a scheme run by its Chairman & controlling shareholder to siphon money away from U.S. public markets." Shares of Yangtze River Port and Logistics Limited (NASDAQ: YRIV) declined to as low as $3.62 per share on December 14, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Yangtze River Port and Logistics Limited (NASDAQ: YRIV) common shares between February 2, 2016 and December 5, 2018, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 2, 2016 and December 5, 2018, the defendants made false and/or misleading statements and/or failed to disclose that Yangtze’s purported lease of the Wuhan Yangtze River Newport Logistics Center, the company’s main asset, was a fabrication, that Yangtze’s only operating subsidiary, Wuhan Yangtze River Newport Logistics Co., Ltd., was declared insolvent in China due to a number of default judgments against it, and that as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times