San Diego, CA -- (SBWIRE) -- 03/03/2021 -- An investor, who purchased shares of EHang Holdings Limited (NASDAQ: EH), filed a lawsuit over alleged violations of Federal Securities Laws by EHang Holdings Limited.

Investors who purchased shares of EHang Holdings Limited (NASDAQ: EH) have certain options and for certain investors are short and strict deadlines running. Deadline: April 19, 2021. NASDAQ: EH investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

China based EHang Holdings Limited operates as an autonomous aerial vehicle (AAV) technology platform company in the People's Republic of China, Europe, North America, West Asia, and internationally. On February 16, 2021, a report was published entitled " EHang: A Stock Promotion Destined to Crash and Burn." wherein the report detailed a series of allegedly alarming red flags about EHang.

Specifically, the report, in its report summary, stated, "We conclude that EH's relationship with its primary purported customer is a sham. Government records and credit reports show that EH's major customer is Shanghai Kunxiang Intelligent Technology Co.", further stating. "We have gathered extensive evidence including behind-the-scenes photographs, recorded phone calls, and videos of on-site visits to EH's various facilities, as well as Kunxiang's offices which lead us to believe that Kunxiang signed sham sales contracts to benefit its investment stock price in EH."

Shares of EHang Holdings Limited (NASDAQ: EH) declined from $129.80 per share on February 12, 2021, to as low as $44.46 per share on February 16, 2021.

The plaintiff claims that between December 12, 2019 and February 16, 2021, Ehang Holdings Limited made materially false and/or misleading statements and/or failed to disclose that the Company's purported regulatory approvals in Europe and North American for its EH216 were for use as a drone, and not for carrying passengers, that its relationship with its purported primary customer is a sham, that EHang Holdings Limited has only collected on a fraction of its reported sales since its ADS began trading on NASDAQ in December 2019, that the Company's manufacturing facilities were practically empty and lacked evidence of advanced manufacturing equipment or employees, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of EHang Holdings Limited (NASDAQ: EH) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.