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SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Ebang International Holdings Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of June 7, 2021 - EBON

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New York, New York--(Newsfile Corp. - May 16, 2021) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of Ebang International Holdings Inc. ("Ebang International") (NASDAQ: EBON) between June 26, 2020 and April 5, 2021. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information go to:

https://www.zlk.com/pslra-1/ebang-international-holdings-loss-submission-form?prid=15914&wire=5

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.

Ebang International Holdings Inc. NEWS - EBON NEWS

CASE DETAILS: The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the proceeds from Ebang's public offerings had been directed to an low yield, long-term bonds to an underwriter and to related parties rather than used to develop the Company's operations; (2) Ebang's sales were declining and the Company had inflated reported sales, including through the sale of defective units; (3) Ebang's attempts to go public in Hong Kong had failed due to allegations of embezzling investor funds and inflated sales figures; (4) Ebang's purported crytocurrency exchange was merely the purchase of an out-of-the-box crypto exchange; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

WHAT THIS MEANS TO SHAREHOLDERS: If you suffered a loss in Ebang International you have until June 7, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

NO COST TO YOU: If you purchased Ebang International securities during the Class Period date OF between June 26, 2020 and April 5, 2021, you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

HOW TO JOIN THE CLASS ACTION: Complete this brief submission form https://www.zlk.com/pslra-1/ebang-international-holdings-loss-submission-form?prid=15914&wire=5 or call 212-363-7500 to speak to Joseph E. Levi, Esq. to discuss this case.

WHY LEVI & KORSINSKY: Levi & Korsinsky have a proven track record of winning cases worth hundreds of millions of dollars for shareholders over a 20-year period. We represent and fight for shareholders who have been wronged by Corporations.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The Firm's Founding Partners, Joseph Levi and Eduard Korsinsky have been representing shareholders and institutional clients for almost 20 years and have achieved remarkable results for clients in the U.S. and internationally. The firm, with more than 90 employees, is committed to fostering, cultivating and preserving a culture of diversity, equity and inclusion for employees and those that we represent. Our attorneys have extensive expertise representing investors in securities litigation with a track record of recovering hundreds of millions of dollars in cases. Levi & Korsinsky was ranked in Institutional Shareholder Services' ("ISS") SCAS Top 50 Report for 7 years in a row as a top securities litigation firm in the United States. The SCAS Top 50 Report identifies the top plaintiffs' securities law firms in the country, and year after year, ISS has recognized Levi & Korsinsky as a leading firm in the area of securities class action litigation.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84244