The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Tenet Fintech Group Inc. (Other OTC: PKKFF) who purchased shares between September 2, 2021 and October 13, 2021. The action, which was filed in the United States District Court for the Eastern District of New York, alleges that the Company violated federal securities laws.
In particular, the Tenet Fintech lawsuit alleges that (1) the Company did not own 51% of Asia Synergy Financial Capital Ltd. (“ASFC”) through Wuxi Aorong; (2) the Company did not disclose its actual ownership structure of ASFC, an undisclosed and potentially problematic nominee shareholder agreement; (3) Huayan did not own the Heartbeat platform; (4) the Heartbeat platform did not exist prior to the alleged acquisition; (5) the Company faced imminent delisting from NASDAQ due to non-compliance with known regulations; and (6) as a result of the foregoing, defendants’ public statements were materially false and/or misleading at all relevant times.
Shareholders have until January 18, 2022 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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