LOS ANGELES–(BUSINESS WIRE)–$IDEX #IDEX—The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Ideanomics, Inc. (“Ideanomics” or “the Company”) (NASDAQ: IDEX) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Ideanomics bottom line performance was adversely impacted by costs associated with constructing the Company’s U.S. infrastructure and hiring a new executive team. Based on this fact, the Company had very little chance to meet its 2018 EBITDA guidance. At the same time, the Company’s margins from its oil trading and consumer electronics businesses were too low to maintain viability. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Ideanomics, investors suffered damages.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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