INVESTIGATION ALERT: Law firm Schall encourages investors in Singularity Future Technology Ltd. who suffered losses of $100,000 to contact the firm

LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national firm specializing in shareholder rights litigation, announces that it is investigating claims on behalf of investors in Singularity Future Technology Ltd. (“Singularity” or “the Company”) (NASDAQ: SGLY) for violating securities laws.

The investigation aims to determine whether the Company has made false and/or misleading statements and/or has failed to disclose relevant information to investors. Singularity announced on August 12, 2022 that CEO Yang Jie had resigned from the company after being suspended by its board of directors. The suspension was based on the recommendation of a special committee that was formed to investigate allegations raised by Hindenburg Research in a May 2022 report. Hindenburg alleged that Jie ran a Ponzi scheme in China before fleeing to the United States. The research report also made allegations about the company’s recent bitcoin mining deal with Golden Mainland Inc., stating “we also found no evidence that Golden Mainland has a head office or employees outside of its founder, who used a Gmail address on the SEC filing detailing the alleged $250 million deal.We believe Golden Mainland is a blatant fabrication.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us via the firm’s website at www.schallfirm.com or by email at [email protected]

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to do nothing, you can remain an absent member of the group.

Schall Law Firm represents investors worldwide and specializes in securities class action and shareholder rights litigation.

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