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Case Status:    DISMISSED    
On or around 02/08/2023 (Court's order of dismissal)

Filing Date: June 28, 2020

According to the Complaint, Ideanomics, Inc. purports to be a global company focused on facilitating the adoption of commercial electric vehicles and developing next generation financial services and Fintech products.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Ideanomics’ MEG Center in Qingdao was not “a one million square foot EV expo center”; (ii) the Company had been using doctored or altered photographs of the purported MEG Center in Qingdao; (iii) the Company’s electric vehicle business in China was not performing nearly as strong as Ideanomics had represented; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On November 4, 2020, the Court issued an Order consolidating cases. All future docketing was ordered to be done in the lead case 20-CV-04944. On December 16, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated amended Complaint on February 26, 2021.

Defendants filed a Motion to Dismiss the consolidated amended Complaint on May 6, 2021. On March 15, 2022, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint.

Lead Plaintiff filed a Motion for Leave to amend the Complaint on April 14, 2022. On February 8, 2023, the Court issued an Order denying Plaintiff's Motion for leave to amend and directed the Clerk of Court to close the case.

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