CBAK Energy Technology, Inc. (CBAT)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of CBAK Energy Technology, Inc. ("CBAK" or "the Company") (NASDAQ: CBAT). The investigation concerns whether CBAK and certain of its officers and/or directors have violated federal securities laws.
On December 18, 2020, J Capital Research (“J Capital”) published a report entitled “The Undead: Why China BAK Has Zero Value”. The J Capital report asserted that CBAK “has all the hallmarks of a Chinese fraud.” Specifically, J Capital noted that while CBAK “claims to be an [electric vehicle] company,” “[a]ctually, it makes AA-size batteries for small appliances.” J Capital further asserted that it had “contacted the auto companies [CBAK] claims are big clients, and they denied they do business with” CBAK.” The J Capital report concluded that CBAK artificially inflates its balance sheet with phony construction accounts and inflates its reported revenues through fake sales.
If you are aware of any facts relating to this investigation, or purchased CBAK shares, you can assist this investigation by visiting contacting the firm. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.