NEW YORK, Sept. 17, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Tengjun Biotechnology Corp. (“Tengiun” or the “Company”) (OTCMKTS: TJBH). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Tengiun and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 5, 2023, Tengjun announced that its previous financial statements on Form 10-K for “the fiscal year ended December 31, 2022, should no longer be relied upon due to accounting methodology errors in such financial statements and that the Board deems it advisable and in the best interests of the Company to restate the financial statements by amending its annual report on Form 10-K for the fiscal year ended December 31, 2022 as soon as reasonably practicable.”
On this news, Tengjun’s American Depositary Share (“ADS”) price fell $3.15 per ADS, or 17.64%, to close at $14.71 per ADS on September 5, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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Robert S. Willoughby
888-476-6529 ext. 7980