Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Future FinTech Group Inc. (“FinTech”) (NasdaqCM: FTFT).
According to a securities class action complaint filed against the Company, between January 2020 and January 2021, Future FinTech’s CEO, Shanchun Huang, allegedly bought large volumes of the Company’s stock at escalating prices to artificially raise its share price above Nasdaq’s $1.00 minimum bid requirement and avoid delisting, without disclosing his ownership or trades as federal securities laws require. The complaint further alleges that the Company’s statements announcing Huang’s appointment, its annual reports, and its accompanying SOX certifications failed to disclose this conduct. On January 11, 2024, the SEC charged Huang with fraud and disclosure failures.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period in violation of federal securities laws, which remains ongoing.
KSF’s investigation is focusing on whether FinTech’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of FinTech shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-538-3606 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqcm-ftft/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.
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To learn more about KSF, you may visit www.ksfcounsel.com.
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