NEW YORK, July 16, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Ideanomics Inc. (“Ideanomics” or the “Company”) (NASDAQ: IDEX).   Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.

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

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On November 14, 2018, Ideanomics issued a press release disclosing that the Company “intend[ed] to phase out [its] oil trading and consumer electronics businesses, with the intention to fully divest these assets in the near future.”  Ideanomics also disclosed that it did “not anticipate meeting [its] EBITDA guidance of $35 million for fiscal year 2018,” citing “costs associated with building out [its] U.S. infrastructure and hiring [its] new executive team.” 

On this news, Ideanomics’ stock price fell $1.59 per share, or 48.77%, to close at $1.67 per share on November 14, 2018.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 9980