| COMPANY |
Ideanomics, Inc |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
20-cv-04944 |
| JUDGE |
The Honorable George B. Daniels |
| CLASS PERIOD |
March 20, 2020 and June 25, 2020 |
| SECURITY TYPE |
Common Stock |
Case Background:
According to the initial complaint filed in the Action, on June 25, 2020, analyst Hindenburg Research ("Hindenburg") issued a series of tweets in which it called Ideanomics “an egregious & obvious fraud.” Hindenburg asserted that it found evidence that Ideanomics had doctored photos for use in its press releases to suggest that it owns or operates a vehicle sales center in Qingdao, China, when it in fact does not. Also, on June 25, 2020, analyst J Capital Research issued a report on Ideanomics entitled “Champion of Promotes.” J Capital Research wrote, in part, that “Ideanomics . . . is a zero. The company changes its name and promotional story so frequently that it’s hard to keep up. One thing remains a constant, despite all the press releases, buzzwords and hype: shareholders get wiped out.”
This securities fraud class action lawsuit was brought on behalf of investors who purchased Ideanomics common stock between March 20, 2020 and June 25, 2020.
Current Status of Case:
On February 8, 2023, the Court entered an order denying Lead Plaintiff’s motion to amend the complaint and entered an order dismissing the case. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.