LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Wunong Net Technology Company Limited (“Wunong” or “the Company”) (NASDAQ: WNW) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Wunong issued a press release on May 19, 2021, stating it had “received written notification on May 18, 2021, from The Nasdaq Stock Market LLC that it no longer complies with Listing Rule 5250(c)(1) for continued listing in that it has failed to file its annual report on Form 20-F for the year ended December 31, 2020.” The Company advised the market that it “is working aggressively to complete its audit and file its annual report on Form 20-F by June 30, 2021 and accordingly, regain compliance with the Nasdaq Rules ahead of the deadline to submit its plan to regain compliance.” Based on this news, shares of Wunong fell by 6% the next day.
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We also encourage you to contact Brian Schall of the 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 through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
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 take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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