According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Companys failure to derive real revenue from third-party customers left it almost completely dependent on related parties; (2) as a result, most, if not all, of the Companys revenue came from related parties the Company created, funded, or controlled through its ownership and board seats; (3) the Company was misclassifying and underreporting related party revenue in order to conceal the Companys near total-dependence on related parties; (4) many of the Companys new R&D partners are undisclosed related parties and/or faades; (5) as a result, the Companys valuation was significant less than Defendants disclosed to investors; and (6) as a result, Defendants public statements were materially false and/or misleading at all relevant times.
Eligible SecurityIDs: 37611X100, G8354H126, KYG8354H1267, US37611X1000, BN6KXF0, BNQP3R7
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