NEW YORK, December 4, 2021 / PRNewswire / – Rosen Law Firm, a Global Investor Rights Law Firm, Reminds Buyers of Tenet Fintech Group Inc. f / k / a Peak Fintech Group Inc. (OTC: PKKFF) (NASDAQ) : TNT) between September 2, 2021 and October 13, 2021, both dates inclusive (the “Recourse Period”), of the material January 18, 2022 lead applicant time limit in the class action lawsuit first filed by the firm.
SO WHAT: If you purchased Tenet Fintech securities during the Class Period, you may be entitled to compensation without payment of any costs or additional charges through a contingency fee agreement.
WHAT TO DO NEXT: To join the Tenet Fintech class action lawsuit, go to http://www.rosenlegal.com/cases-register-2169.html or call Phillip Kim, Esq. toll free at 866-767-3653 or by emailing [email protected] or [email protected] for information on the class action. A class action has already been filed. If you wish to act as the principal applicant, you must apply to the Court not later than January 18, 2022. A principal plaintiff is a representative party acting on behalf of the other members of the class to direct the litigation.
WHY THE ROSEN LAW: We encourage investors to select qualified advisors with a track record of success in leadership roles. Often, companies providing reviews do not have comparable experience, resources or peer recognition. Many of these companies do not actually litigate class actions in securities. Be wise in choosing a lawyer. Rosen law firm represents investors around the world, focusing its practice on class actions in securities and derivative litigation between shareholders. Rosen law firm has secured the largest securities class action settlement against a Chinese company. Rosen law firm was ranked # 1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has been ranked in the top 4 every year since 2013 and has recovered hundreds millions of dollars for investors. In 2019 alone, the company achieved more than $ 438 million for investors. In 2020, founding partner Laurence Rosen has been named by law360 as Titan of the Plaintiff’s Bar. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.
CASE DETAILS: According to the lawsuit, the defendants throughout the period of the action made false and / or misleading statements and / or failed to disclose: (1) Tenet Fintech did not own 51% of Asia Synergy Financial Capital Ltd. (“ASFC”) via Wuxi Aorong; (2) Tenet Fintech did not disclose its beneficial ownership structure of the CBSA, an undisclosed and potentially problematic nominee shareholders agreement; (3) Huayan did not own the Heartbeat platform; (4) the Heartbeat platform did not exist prior to the alleged acquisition; (5) Tenet Fintech 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 nine full months before Tenet Fintech was uplisting; (7) as such, Tenet Fintech knew or should have known that its 40-F bid was deficient; (8) Cubeler has historically failed to make even minimum loan repayments to Tenet Fintech; (9) Tenet Fintech, instead of exercising its right to the assets, decided to buy Cubeler; (10) in light of the above, and taking into account that Cubeler is owned by several tenet Fintech insiders, the acquisition of Cubeler by the Company is not based on legitimate business interests; (11) there is no evidence that Huayan ever owned the Heartbeat platform or transferred the asset to Huike; (12) the CBSA’s largest shareholder has had its shares frozen due to legal sanctions; and (13) the creation of the CBSA itself was likely a related party transaction. When the real details entered the market, the lawsuit claims that investors have suffered damage.
To join the Tenet Fintech class action lawsuit, go to http://www.rosenlegal.com/cases-register-2169.html or call Phillip Kim, Esq. toll free at 866-767-3653 or by emailing [email protected] or [email protected] for information on the class action.
No class has been certified. Until a group is certified, you are not represented by a lawyer unless you hire one. You can choose the lawyer of your choice. You can also remain an absent group member and do nothing at this point. The ability of an investor to participate in any potential future payback does not depend on whether he is a principal applicant.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40e Ground
new York, NY 10016
Phone. : (212) 686-1060
Toll free: (866) 767-3653
Fax: (212) 202-3827
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