According to the Complaint, Yangtze River Port and Logistics Limited ("Yangtze" or the "Company"), through its wholly-owned subsidiary, Wuhan Yangtze River Newport Logistics Co., Ltd., engages in the business of real estate and infrastructural development and operating a port logistics center in the PRC. Yangtze reached the U.S. markets through a reversed merger.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Yangtze’s purported lease of the Wuhan Yangtze River Newport Logistics Center, the company’s main asset, was a fabrication; (2) Yangtze’s only operating subsidiary, Wuhan Yangtze River Newport Logistics Co., Ltd., was declared insolvent in China due to a number of default judgments against it; and (3) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On April 19, 2019, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on June 3, 2019.

Defendants filed a Motion to Dismiss the amended Complaint on July 17. On June 28, 2021, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. The Order stated claims against certain individual defendants are to be dismissed with prejudice. This action will proceed against issuer defendant and certain individual defendant.

The parties filed a stipulation of voluntary dismissal on February 2, 2022. The Court agreed to the Stipulation on February 3, and ordered this case to be dismissed.