GlobeNewswire Inc | Feb 16, 2021 09:03PM EST

February 17, 2021

SAN DIEGO, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by EHang Holdings Limited (NASDAQ:EH) ("EHang" or "the Company").

On February 16, 2021, Wolfpack Research ("Wolfpack ") published a report entitled " EHang: A Stock Promotion Destined to Crash and Burn." wherein Wolfpack detailed a series of alarming red flags about EHang.

Specifically, Wolfpack, in its report summary, stated, "We conclude that EHs relationship with its primary purported customer is a sham. Government records and credit reports show that EHs major customer is Shanghai Kunxiang Intelligent Technology Co., further stating. We have gathered extensive evidence including behind-the-scenes photographs, recorded phone calls, and videos of on-site visits to EHs various facilities, as well as Kunxiangs offices which lead us to believe that Kunxiang signed sham sales contracts to benefit its investment stock price in EH."

Following this news, the Company's stock price fell 62.69% on February 16, 2021.

If you have information that could assist in this investigation, including past employees and others, or if you are an EHang shareholder and are interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com)by email or phone at 619-814-4471. If emailing, please include a phone number.

Additionally, you can [click here to join this action]. There is no cost or obligation to you.

About Johnson Fistel, LLP: Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:Johnson Fistel, LLPJim Baker, 619-814-4471jimb@johnsonfistel.com[click here to join this action].