WeTrade Group Inc. Provides An Update On The Lawsuit Filed by Purported Shareholders
BEIJING, Jan. 26, 2024 /PRNewswire/ -- WeTrade Group Inc. ("WeTrade" or the "Company") (NASDAQ:WETG), a "software as a service" ("SaaS") technology service provider and digital assets holding company, issued a statement regarding the litigation initiated by individuals claiming to be shareholders associated with Zheng Dai and Pijun Liu in the Chancery Court of the State of Wyoming ("Chancery Court").
Temporary Restraining Order Restraining Plaintiff-Shareholders
On November 7, 2023, the Chancery Court issued a Temporary Restraining Order, primarily restraining the plaintiff-shareholders and their affiliates (including Zheng Dai, Pijun Liu, and Lina Jiang) from claiming to act on behalf of the Company.
Preliminary Injunction Order Restraining Plaintiff- Shareholders
On January 5, 2024, the Chancery Court further entered into a preliminary injunction order. Specifically, the plaintiff-shareholders and their affiliates (included but not limited to Zheng Dai, Pijun Liu, Lina Jiang and their affiliates) are prohibited from engaging in the following activities:
(i) representing themselves as majority shareholders, directors, executives or employees of the Company and its affiliates;
(ii) attempting to contact regulatory bodies such as SEC or NASDAQ or making any filings or press releases on behalf of the Company;
(iii) attempting to alter board composition and executive team;
(iv) spreading false statements about the Company and its leadership;
(v) trying to communicate with service providers of the Company including auditors, stock transfer agents, and filing agents; and
(vi) issuing shares of the Company.
The Company will take further legal action to safeguard the best interests of its shareholders, clients, and stakeholders. It will persistently concentrate on its core operations and strategic objectives, ensuring uninterrupted expansion and delivering substantial value to its investors.
About WeTrade Group Inc.
WeTrade Group Inc. is currently pursue two corporate strategies. One business strategy is to continue providing software development services, and the other strategy is to acquire and hold digital assets.
We provide Al-enabled software development services to our customers, which included developing, designing and implementing various SAAS software solutions for businesses of all types, including industrial and other businesses.
Forward Looking Statements
This report includes "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward looking statements include any statements regarding the Company's strategic and operational plan, and [1]expected financial performance. Forward looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward looking statements are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements, including but not limited to unforeseen events that may affect the performance of the Company's business. The Company does not intend, and undertakes no duty, to update this information to reflect future events or circumstances. Investors are referred to the most recent reports filed with the SEC by the Company.
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SOURCE WeTrade Group Inc