Freedman Normand Friedland LLP Files Securities Class Action Against Eqonex Limited (EQOS) and Certain Officers
Freedman Normand Friedland LLP Files Securities Class Action Against Eqonex Limited (EQOS) and Certain Officers
NEW YORK, April 21, 2023 /PRNewswire/ -- Freedman Normand Friedland LLP ("FNF") announces that it has filed a class action lawsuit against Eqonex Limited ("Eqonex" or the "Company") (NASDAQ: EQOS), Binance Group ("Binance"), Bifinity UAB, certain Eqonex officers and directors, and Binance's Chief Executive Officer ("CEO") ("Defendants") asserting claims under §§ 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, and/or §§ 5 and 12(a)(1) of the Securities Act of 1933. The action, filed in the United States District Court for the Southern District of New York and docketed under 23-cv-03346 is on behalf of a class consisting of all persons and entities that purchased or otherwise acquired Eqonex securities between March 7, 2022 and November 29, 2022, inclusive (the "Class Period") and/or unregistered EQO securities between April 8, 2021 and the present (the "Unregistered Securities Class Period") and were damaged by Defendants' violations of the federal securities laws.
紐約， 2023年4月21日 /PRNewswire/ — Freedman Normand Friedland LLP（“FNF”）宣佈已對Eqonex Limited（“Eqonex” 或 “公司”）（納斯達克股票代碼：Eqos）、幣安集團（“幣安”）、Bifinity UAB、某些Eqonex高管和董事以及幣安首席執行官（“首席執行官”）（“被告”）提起集體訴訟 1934 年《證券交易法》第 10 (b) 和 20 (a) 條及規則 10b-5 據此頒佈，和/或 1933 年《證券法》第 5 條和第 12 (a) (1) 條。該訴訟提起於 美國 南區地方法院 紐約 並在 23-cv-03346 下登記的代表一個由在兩者之間購買或以其他方式收購 Eqonex 證券的所有個人和實體組成的類別 2022年3月7日 和 2022年11月29日，包括（“集體訴訟期”）和/或兩者之間的未註冊的 EQO 證券 2021年4月8日 以及現在（“未註冊證券集體訴訟期”），並因被告違反聯邦證券法而受到損害。
If you are a shareholder who purchased Eqonex and/or unregistered EQO securities during the relevant class period, you have until June 20, 2023 to ask the Court to appoint you as Lead Plaintiff for the class. To discuss this action and/or obtain a copy of the Complaint, contact Ivy T. Ngo at [email protected] or 646-392-8842. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
如果您是在相關集體訴訟期內購買了Eqonex和/或未註冊的EQO證券的股東，則您必須在 2023年6月20日 要求法院任命你爲該課的首席原告。要討論此項行動和/或獲取投訴副本，請聯繫 Ivy T. Ngo 在 [電子郵件保護] 或 646-392-8842。鼓勵那些通過電子郵件進行查詢的人提供他們的郵寄地址、電話號碼和購買的股票數量。
Eqonex (formerly Diginex Limited) was a Singapore-domiciled digital assets financial services company which operated four business lines: Custody, Asset Management, Brokerage, and the Eqonex Exchange (the "Exchange"). Notably, the Custody business was composed of Digivault, a stand-alone digital asset custodian based in the United Kingdom ("U.K.") which was the first one to be registered with U.K. Financial Conduct Authority ("FCA"), and the Exchange business facilitated the trading of products in BTC, ETH, BCH, USDC, USDT and EQONEX's alleged utility token known as EQO through a purportedly "compliant, secure, fair, and equitable platform."
Eqonex（前身爲 Diginex Limited）是 新加坡-註冊的數字資產金融服務公司，經營四條業務線：託管、資產管理、經紀和Eqonex交易所（“交易所”）。值得注意的是，託管業務由Digivault組成，Digivault是一家獨立的數字資產託管人，總部設在 英國 （“英國”）是第一個在英國金融行爲監管局（“FCA”）註冊的公司，交易所業務促進了比特幣產品的交易， 以太坊，BCH、USDC、USDT和EQONEX通過據稱 “合規、安全、公平和公平的平臺” 推出的名爲EQO的實用代幣。
On March 7, 2022, Eqonex announced a "strategic partnership" with Bifinity, a payments technology company affiliated with Binance and launched that same day, which initially focused on leveraging "Digivault as an FCA regulated custodian, strengthening the technology supporting the Eqonex Exchange, and expanding Bifinity's geographical footprint through Eqonex's licensing framework." In addition, the two companies announced that they "will continue to engage in non-binding discussions to explore potential merger opportunities, subject to regulatory approval[,]" and "explore opportunities to grow EQONEX's digital asset investment solutions business." Under the partnership, Bifinity issued Eqonex a $36 million convertible loan facility (the "Loan") in exchange for a right to appoint from within Bifinity, Eqonex's CEO, Chief Financial Officer and Chief Legal Officer, as well as two members for Eqonex's board.
開啓 2022年3月7日，Eqonex宣佈與隸屬於幣安的支付技術公司Bifinity建立 “戰略合作伙伴關係”，並於當天啓動，最初的重點是利用 “Digivault作爲受英國金融行爲管理局監管的託管人，加強支持Eqonex交易所的技術，以及通過Eqonex的許可框架擴大Bifinity的地理足跡。”此外，兩家公司宣佈，他們 “將繼續進行不具約束力的討論，以探索潛在的合併機會，但須經監管部門批准 [，]” 和 “探索發展EQONEX數字資產投資解決方案業務的機會”。根據合作伙伴關係，Bifinity 發行了 Eqonex a 3,600 萬美元 可轉換貸款額度（“貸款”），以換取從Bifinity內部任命Eqonex首席執行官、首席財務官和首席法務官以及Eqonex董事會兩名成員的權利。
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Defendants were not interested in leveraging the Exchange or deploying resources to strengthen that technology; (2) Eqonex had no way of paying Bifinity back pursuant to the Loan Agreement; (3) Bifinity and Binance had no intention of consummating a merger between Eqonex and Bifinity or Binance; and (4) 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.
該申訴稱，在整個集體訴訟期內，被告作出了重大虛假和/或誤導性陳述，也沒有披露有關公司業務、運營和前景的重大不利事實。具體而言，被告未能向投資者披露：（1）被告對利用交易所或部署資源來增強該技術不感興趣；（2）根據貸款協議，Eqonex無法償還Bifinity；（3）Bifinity和Binance無意完成Eqonex與Bifinity或Binance的合併；（4）由於上述原因，被告對公司業務的積極陳述, 運營和前景, 具有重大誤導性和/或缺乏合理的依據.
On August 15, 2022, Eqonex announced plans to exit the crypto exchange space, close the Exchange, and focus its resources on its Asset Management and Custody businesses. Despite the Exchange accounting for 79.9% of the Company's revenues in the financial year ending March 31, 2022, Defendants assured investors that day that "proactively exiting the crowded exchange space is the right decision to deliver shareholder value" and "[o]ur Asset Management and Custody business, Digivault, have already made solid progress with the additional resources that we have allocated to them recently, and we are bullish about their prospects as we become an organization focused on these high-potential business areas." That same day, in connection with the Exchange closing and in accordance with the Loan agreement, Bifinity granted Eqonex a waiver for the cessation of a major business and Eqonex agreed to increase its share charge of Digivault under the loan agreement from 24.9% to 100%.
開啓 2022年8月15日，Eqonex 宣佈了退出計劃 加密 交換空間，關閉交易所，將其資源集中在其資產管理和託管業務上。儘管在截至的財政年度中，交易所佔公司收入的79.9％ 2022年3月31日，被告當天向投資者保證，“主動退出擁擠的交易空間是爲股東創造價值的正確決定”，“我們的資產管理和託管業務Digivault已經在我們最近分配給他們的額外資源方面取得了穩步進展，隨着我們成爲一個專注於這些高潛力業務領域的組織，我們對他們的前景持樂觀態度。”同一天，在交易所關閉方面，根據貸款協議，Bifinity向Eqonex提供了停止主要業務的豁免，Eqonex同意將其根據貸款協議對Digivault的股份費用從24.9％提高到100％。
On this news, Eqonex's share price fell over 18% to close at $0.637 on August 17, 2022.
根據這一消息，Eqonex的股價下跌了18％以上，收於 0.637 美元 上 2022年8月17日。
Then, on November 21, 2022, Eqonex disclosed that it was "currently in breach of certain provisions of the Loan Agreement and consequently seeking a waiver from Bifinity on such breaches" and "[b]ased on the working capital forecast prepared by management of the [Company], the financial resources available to the [Company] as of March 31, 2022 and up to [November 21, 2022] may not be sufficient to satisfy the working capital requirements of the [Company] for a period of twelve months from th[at] date ... which may cast significant doubt on the Group's ability to continue as a going concern."
然後，繼續 2022年11月21日，Eqonex透露，它 “目前違反了貸款協議的某些條款，因此正在尋求Bifinity對此類違規行爲的豁免”，“[b] 根據 [公司] 管理層編制的營運資金預測，[公司] 截至目前可用的財務資源 2022年3月31日 最多可達 [2022年11月21日] 可能不足以滿足 [公司] 自 [自] 之日起十二個月的營運資金需求... 這可能會使人們對集團繼續作爲持續經營企業的能力產生重大懷疑。”
On this news, Eqonex's share price plummeted over 48% to close at $0.141 on November 22, 2022.
根據這一消息，Eqonex的股價暴跌了48％以上，收於 0.141 美元 上 2022年11月22日。
Finally, before markets opened on November 29, 2022, Eqonex announced receipt of The Nasdaq Stock Market LLC ("NASDAQ")'s Listing Qualifications department's determination that the Company's securities will be delisted from NASDAQ and that trading in those securities will be suspended at the opening of business on November 30, 2022.
最後，在市場開盤之前 2022年11月29日，Eqonex宣佈收到納斯達克股票市場有限責任公司（“納斯達克”）的上市資格部門的決定，即該公司的證券將從納斯達克退市，這些證券的交易將在開業時暫停 2022年11月30日。
On this news, Eqonex's share price fell over 34% to close at $0.093 on November 29, 2022.
根據這一消息，Eqonex的股價下跌了34％以上，收於 0.093 美元 上 2022年11月29日。
About Freedman Normand Friedland LLP
關於弗裏德曼·諾曼·弗裏德蘭律師事務所
Founded in 2019, FNF is a national law firm comprised of innovative and tech savvy attorneys with stellar credentials. With experience from some of the most prestigious litigation firms in the country, FNF's legal team has a successful and decades-long track record of consistently achieving outstanding results in high-stakes and notable disputes on behalf of sophisticated clients. FNF's legal team has extensive experience litigating complex commercial securities, antitrust, class action and derivative matters on behalf of both plaintiffs and defendants in a broad range of industries. FNF couples a unique brand of creative thinking and technical expertise with well-balanced aggressive advocacy to achieve impressive results in complex, high value, and class action matters. As the firm continues to grow, it has focused on building a diverse attorney pool with cross-functional expertise.
FNF成立於2019年，是一家全國性律師事務所，由具有出色資歷的創新和精通技術的律師組成。憑藉在該國一些最負盛名的訴訟公司的經驗，FNF的法律團隊在代表資深客戶處理高風險和引人注目的糾紛方面擁有長達數十年的成功記錄。FNF的法律團隊在代表各行各業的原告和被告對複雜的商業證券、反壟斷、集體訴訟和衍生事宜提起訴訟方面擁有豐富的經驗。FNF將具有創造性思維和技術專長的獨特品牌與均衡的積極倡導相結合，在複雜、高價值和集體訴訟案件中取得了令人印象深刻的結果。隨着公司的持續發展，它專注於建立具有跨職能專業知識的多元化律師庫。
CONTACT: Vel Freedman, [email protected].
聯繫人： 維爾·弗裏德曼， [電子郵件保護]。
SOURCE Freedman Normand Friedland LLP
來源 Freedman Norman Friedland LLP
譯文內容由第三人軟體翻譯。