Yangtze River Port and Logistics Limited Securities Litigation

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Lawsuit Overview

Defendant:Yangtze River Port and Logistics Limited
Date Filed:January 2nd, 2019
Sector:Finance
Industry:Real Estate

According to the Complaint, Yangtze River Port and Logistics Limited ("Yangtze" or the "Company"), through its wholly-owned subsidiary, Wuhan Yangtze River Newport Logistics Co., Ltd., engages in the business of real estate and infrastructural development and operating a port logistics center in the PRC. Yangtze reached the U.S. markets through a reversed merger.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Yangtze's purported lease of the Wuhan Yangtze River Newport Logistics Center, the company's main asset, was a fabrication; (2) Yangtze's only operating subsidiary, Wuhan Yangtze River Newport Logistics Co., Ltd., was declared insolvent in China due to a number of default judgments against it; and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

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First Identified Complaint

Michael Behrendsen, et al. v. Yangtze River Port and Logistics Limited, et al.

Date Filed:January 2nd, 2019
Class Period Start:February 2nd, 2016
Class Period End:December 5th, 2018
First Identified Complaint Filings
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