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SHAREHOLDER WARNING: Legislation agency Pomerantz reminds shareholders of losses on their funding in Kingold Jewellery, Inc. over class motion lawsuit and upcoming deadline – KGJI – Yahoo Finance

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "NEW YORK, August 29, 2020 (GLOBE NEWSWIRE) – Pomerantz LLP announces that a class action lawsuit has been filed against Kingold Jewelry, Inc. (“Kingold” or the “Company”) (OTCMKTS: KGJI) and some of its officers in the United States, filed under 20-cv -03050 Indexed District Court for the East Borough of New York is on behalf of any person or entity who purchased or otherwise acquired Kingold securities between March 15, 2018 and June 28, 2020 inclusive (the "Class Period"). Plaintiff seeks compensation for damages caused by Defendant violating the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
"data-reactid =" 12 "> NEW YORK, Aug 29, 2020 (GLOBE NEWSWIRE) – Pomerantz LLP announces that a class action lawsuit has been filed against Kingold Jewelry, Inc. (" Kingold "or the" Company ") (OTCMKTS : KGJI) and some of its officials. The class action lawsuit filed in the US District Court for the Eastern District of New York and indexed at 20-cv-03050 is on behalf of individuals or entities that have purchased or otherwise acquired Kingold Securities between March 15, 2018 and June 28, 2020 (including the "Class Period") Plaintiff is seeking damages arising from Defendants' violations of federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act ”).

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "If you are a shareholder who has meanwhile bought Kingold securities During class time, you have until August 31, 2020 to petition the court to appoint you as the lead plaintiff for the class. A copy of the complaint is available at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 7980. Those who inquire by email are asked to provide their postal address, telephone number, and the number of shares purchased. "data-reactid =" 13 "> If you are a shareholder who purchased Kingold securities during the class period, you have until August 31, 2020 to ask the court to appoint you as the lead plaintiff for the class A copy of the complaint is available at www.pomerantzlaw.com. To discuss this promotion, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW) toll free, ext. 7980. In the case of e-mail it is recommended to provide the postal address, telephone number and the number of shares purchased.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "(Click here for information on how to participate in the class action.)"data-reactid =" 14 ">(Click here for information on how to participate in the class action.)

Kingold purports to design, manufacture, and sell 24-karat gold jewelry and Chinese ornaments in the People's Republic of China.

The complaint alleges that throughout the classroom, Defendants made materially wrong and / or misleading because they were ruthlessly disregarding the following adverse facts about the business, business, and prospects of the Company that were known to or were made by Defendants have been misrepresented and not disclosed. In particular, Defendants made false and / or misleading statements and / or failed to disclose that: (i) Kingold used counterfeit gold as collateral to fraudulently secure loans; (ii) as a result, the Company would be exposed to bankruptcy suits and delisted from the Shanghai Gold Exchange; and (iii) as a result, Defendants' statements about its business, operations and prospects were materially false and misleading and / or were unfounded at all relevant times.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "On June 29, 2020, before the market opened, Caixin Global published an article entitled "Cover Story: The Secret of $ 2 Billion in Loans Backed by Counterfeit Gold". The article found, among other things, that Kingold had used gold bars, which were actually made of gold-plated copper, as collateral for loans and was now on trial, and that Kingold had been delisted from the Shanghai Gold Exchange. "Data-reactid =" 21 "> On June 29, 2020, before the market opened, Caixin Global published an article entitled" Cover story: The secret of $ 2 billion in loans backed by fake gold " The article found, among other things, that Kingold had used gold bars, which were actually gold-plated copper, as collateral for loans and was now on trial, and that Kingold had been delisted from the Shanghai Gold Exchange.

In that news, Kingold stock fell $ 0.27 per share, or over 24%, and was trading at $ 0.85 per share on June 29, 2020.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The company Pomerantz with offices in New York, Chicago, Los Angeles and Paris are recognized as a leader in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as the dean of class action Pomerantz, the company pioneered class action litigation for securities. Today, more 80 years later, the Pomerantz Company continues its tradition of fighting for the rights of victims of securities fraud, fiduciary violations, and corporate misconduct collected numerous millions of dollars in damages on behalf of class members www.pomerantzlaw.com"data-reactid =" 23 "> The Pomerantz company with offices in New York, Chicago, Los Angeles and Paris is one of the leading companies in the fields of corporate, securities and antitrust disputes. Founded by the late Abraham L. Pomerantz, Known as the dean of the class action lawsuit, pioneer of the Pomerantz Company, today, more than 80 years later, the Pomerantz Company continues its tradition of fighting for the rights of victims of securities fraud, fiduciary violations and corporate misconduct has filed numerous multi-million dollar claims for damages on behalf of class members, see www.pomerantzlaw.com

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com"data-reactid =" 24 "> CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com

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