Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against CBAK Energy Technology, Inc. (NASDAQ: CBAT) on behalf of CBAK stockholders. Our investigation concerns whether CBAK has violated the federal securities laws and/or engaged in other unlawful business practices.
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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 purchased or otherwise acquired CBAK shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.