EHang Unleashes Lawyers on Wolfpack, As It Faces Class-action Lawsuit From Investors
The suit against the Chinese eVTOL aircraft developer seeks compensation and damages from the U.S. District Court for the Southern District of New York for alleged materially false and misleading statements.
EHang is taking legal action against Wolfpack Research, which last week published a highly contentious report that dismissed the eVTOL aircraft developer as “a stock promotion destined to crash and burn.” The self-proclaimed activities research group, which largely takes short positions on equities, leveled multiple accusations against EHang, alleging that it has misrepresented several aspects of its business dealings.
As of early on February 24, FutureFlight had found no confirmation of a lawsuit filed by EHang. A spokesman for Wolfpack said that the company stands by the conclusions of its research.
