NEW YORK, Oct. 14, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Singularity Future Technology Ltd. (“Singularity” or the “Company”) NICE. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation concerns whether Singularity and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On October 7, 2022, Singularity issued a post-IPO press release “announc[ing] . . . that on October 3, 2022 it received a notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) advising that the Company’s securities would be delisted, if the Company fails to request a timely hearing before a Nasdaq hearing panel (the “Panel”). Accordingly, the company intends to request a hearing before the panel in a timely manner. The hearing request will stay any delisting or suspension action until October 25, 2022. Pursuant to the Nasdaq Listing Rules, in connection with the Hearing Request, the Company will request that the automatic stay be extended until the Hearing Proceedings are completed and any additional extension period granted by the Panel following the Hearing.”

As a result of this news, Singularity’s stock price fell $0.18 per share, or 7.73 percent, to close at $2.15 per share on October 10, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of the victims of…