NASDAQ: SGLY, SINO

Singularity Future Technology Ltd. f/k/a Sino-Global Shipping America, Ltd.

Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of Singularity Future Technology Ltd. f/k/a Sino-Global Shipping America, Ltd. (NASDAQ: SGLY, SINO) between February 12, 2021 and November 17, 2022, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Singularity investors under the federal securities laws. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 7, 2023.

If you purchased Singularity securities and would like to join the action, please click “Join This Class Action.”

Class Period:February 12, 2021 through November 17, 2022

If you purchased Singularity securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose:

the Company’s former Chief Executive Officer (“CEO”) Yang Jie’s true educational background, that he had an outstanding arrest warrant in China, committed forgery, was the largest shareholder and Vice President of Finance, for a Nasdaq-listed lending company, China Commercial Credit (“CCC”), which failed after reporting massive losses;
material related party transactions with SOS Information Technology New York Inc. (“SOS”) (where Jie’s wife was Vice President) and Rich Trading Co. Ltd USA (“Rich Trading”);
independent director John Levy’s long tenure as a director of CCC;
the Company lacked adequate internal controls and as a result had a heightened risk of scrutiny and ultimately was subject to a United States Attorney’s Office for the Southern District of New York and SEC investigation and action as well as a potential delisting by NASDAQ; and as a result
the Company’s statements during the Class Period about the historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of the Company, and were materially false and misleading, and lacked a factual basis.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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