NEW YORK, Aug. 27, 2018 /PRNewswire/ -- Bernstein
Liebhard LLP, a nationally acclaimed investor rights law firm, is
investigating potential securities fraud claims on behalf of
shareholders of Fanhua Inc. ("Fanhua" or the "Company") (NASDAQ:
FANH) resulting from allegations that Fanhua and/or its executives
may have issued materially misleading business information to the
investing public.
If you purchased Fanhua securities, and/or would like to discuss
your legal rights and options, please visit Fanhua Shareholder
Investigation or contact Daniel
Sadeh toll free at (877) 779-1414 or
dsadeh@bernlieb.com.
On August 27, 2018, Seeking
Alpha published a report on Fanhua by Seligman Investments. The
report stated that "[b]ased on due diligence of SAIC filings and
other public information, we are deeply concerned about the
company's business practices," further stating that "[o]ur concerns
center on the following:
- Transferring cash to insiders via related-party
transactions;
- Overstating the size of its operations;
- Acquiring companies from undisclosed related parties in
suspicious transactions;
- Reporting questionable revenues and earnings, with sharply
elevated receivables to a firm not disclosed as a related
party;
- Discrepancies between earnings and cash flows;
- Involvement with individuals who have been sanctioned by
regulators in Hong Kong or who are
linked to companies with histories of embezzlement, de-listing,
bankruptcy, or SEC prosecution;
- High dependence on questionable partners/customers, in this
case ones that are a focus of regulatory action in China."
On this news, Fanhua's stock fell sharply during intra-day
trading on August 27, 2018.
If you purchased Fanhua securities, and/or would like to discuss
your legal rights and options, please visit
https://www.bernlieb.com/cases/fanhua-inc-fanh-lawsuit-class-action-fraud-stock-78/
mailto:or contact Daniel Sadeh toll
free at (877) 779-1414 or dsadeh@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over
$3.5 billion for its clients. In
addition to representing individual investors, the Firm has been
retained by some of the largest public and private pension funds in
the country to monitor their assets and pursue litigation on their
behalf. As a result of its success litigating hundreds of lawsuits
and class actions, the Firm has been named to The National Law
Journal's "Plaintiffs' Hot List" thirteen times and listed in
The Legal 500 for ten consecutive years.
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10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
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Connecticut is Michael S. Bigin. Prior results do not
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Contact Information
Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
dsadeh@bernlieb.com
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