The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Ideanomics, Inc. (NASDAQ: IDEX) who purchased shares between March 20, 2020 and June 25, 2020. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Ideanomics lawsuit alleges that (i) Ideanomics’ Mobile Energy Global Division in Qingdao, China (the "MEG Center") was not “a one million square foot EV expo center” as the Company had stated in press releases; (ii) the Company had been using doctored or altered photographs of the purported MEG Center in Qingdao; (iii) the Company’s electric vehicle business in China was not performing nearly as strongly as Ideanomics had represented; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until August 27, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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