Yintech Investment Holdings Limited
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YINTECH MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF YINTECH INVESTMENT HOLDINGS LIMITED IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – YIN
August 17, 2020.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Yintech Investment Holdings Limited (NASDAQ: YIN) to Mr. Wenbin Chen, co-founder, Chairman of the Board of Directors of Yintech, and Chief Executive Officer of Yintech, Mr. Ming Yan, co-founder and director of Yintech, Ms. Ningfeng Chen, co-founder and director of Yintech, and certain other shareholders of Yintech (the “Rollover Shareholders”) is fair to Yintech shareholders. Under the terms of the merger agreement, each American Depositary Share (“ADS”) of Yintech, together with the underlying shares represented by such ADSs, will be cancelled in exchange for the right to receive $7.30 in cash per ADS without interest.
On behalf of Yintech shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
The investigation concerns whether Yintech and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to: (1) obtain the best possible consideration for Yintech shareholders; (2) determine whether the Rollover Shareholders are underpaying for Yintech; and (3) disclose all material information necessary for Yintech shareholders to adequately assess and value the proposed transaction.
Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
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