PKKFF/TNT Investors Have Opportunity to Lead Tenet Fintech Group Inc. f/k/a Peak Fintech Group Inc. Securities Fraud Lawsuit
BENSALEM, Pa., Jan. 7, 2022 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Tenet Fintech Group Inc. f/k/a Peak Fintech Group Inc. ("Tenet" or the "Company"), (OTC: PKKFF, NASDAQ: TNT).
Class Period: September 2, 2021 – October 13, 2021
Lead Plaintiff Deadline: January 18, 2022
Investors suffering losses on their Tenet investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) the Company did not own 51% of 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; (6) the "recent disclosure guidance" was in fact published on November 23, 2020, nearly a full nine months prior to the Company's uplisting; (7) as such, the Company knew or should have known that its Form 40-F submission was deficient; (8) Cubeler historically failed to make even minimum loan repayments to the Company; (9) the Company, instead of exercising its right on the assets, decided to purchase Cubeler; (10) in light of the foregoing, and consideration of the fact that Cubeler is owned by several Company insiders, the acquisition of Cubeler is not based on legitimate business interests; the largest ASFC shareholder had his assets frozen due to court sanctions; (11) the creation of ASFC itself was likely a related party transaction; and (12) as a result of the foregoing, defendants' public statements were materially false and/or misleading at all relevant times.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com
SOURCE Law Offices of Howard G. Smith
Related Links
http://www.howardsmithlaw.com/
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