The Law Offices of Frank R. Cruz announces an investigation of Freedom Holding Corp. (“Freedom” or the “Company”) (NASDAQ: FRHC) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On August 15, 2023, Hindenburg Research published a report alleging, among other things, that Freedom “brazenly skirts sanctions,” shows signs of fake revenue, “commingles customer funds then gambles assets in highly levered, illiquid, risky market bets,” and displays signs of market manipulation in its investments and publicly traded shares. Further, the report alleged that Freedom still does business in the Russian market despite “fire-[selling]” its Russian business following the Ukraine invasion, and that “the company has openly flouted sanctions along with anti-money laundering (AML) and know-your-customer (KYC) rules.”
On this news, Freedom’s stock price fell $2.44, or 3.2%, to close at $73.27 per share on August 15, 2023, thereby injuring investors.
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If you purchased Freedom securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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