SAN DIEGO, Sept. 21, 2021 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by China Evergrande Group ("Evergrande" or the "Company") /zigman2/quotes/202061721/delayed EGRNF +14.29% /zigman2/quotes/202468092/delayed EGRNY +4.36% .
On September 15, 2021, Reuters published an article Titled "Explainer: How China Evergrande's debt troubles pose a systemic risk." The report stated, "Investors became worried in September last year after a leaked letter purportedly from the company showed Evergrande had pleaded for government support to approve a now-dropped backdoor listing plan. Evergrande said the letter was fake." The article elaborated that, "Its total liability, which include payables, is at 1.97 trillion yuan ($306.3 billion), or around 2% of the country's GDP." The People's Bank of China and China Banking and Insurance Regulatory Commission "warned Evergrande in August that it needed to reduce its debt risks."
Following the release of this article, share prices have plummeted.
If you have information that could assist in this investigation, including past employees and others, or an Evergrande shareholder and are interested in learning more about the investigation, please contact Jim Baker ( firstname.lastname@example.org ) by email or phone at 619-814-4471. If emailing, please include a phone number.
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Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com . Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
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