NEW YORK, January 12, 2022 (GLOBE NEWSWIRE) – Pomerantz LLP is investigating claims on behalf of investors of Agrify Corporation (“Agrify” or the “Company”) (NASDAQ: AGFY). These investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The purpose of the investigation is to determine whether Agrify and any of its officers and / or directors have engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
On December 16, 2021, during trading hours, market analyst Bonitas Research (“Bonitas”) published a report regarding Agrify. Among other allegations, the Bonitas report claimed that “Agrify created artificial demand for its product by funding undisclosed insiders of the company to act as independent clients.[,]”That” the insiders of Agrify lied to investors about the independence of its customers in order to carry out a questionable stock market promotion for personal enrichment to the detriment of minority shareholders[,]” and that “[e]Vidnce has shown that five (5) of the eight (8) announcements from Agrify clients in 2021 are either undisclosed insiders of the company or unauthorized and unproven operators.
Following this news, the Agrify share price fell $ 2.24 per share, or 17.81%, to close at $ 10.34 per share on December 16, 2021.
Pomerantz, with offices in New York, Chicago, Los Angeles and Paris, is recognized as one of the leading firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as the Dean of the Class Actions Bar, Pomerantz was a pioneer in the field of securities class actions. Today, more than 80 years later, Pomerantz continues the tradition it established, fighting for the rights of victims of securities fraud, breach of fiduciary duty and professional misconduct. The firm has recovered numerous multi-million dollar damages on behalf of the members of the group. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext 7980