{"id":8951,"date":"2020-05-06T12:12:00","date_gmt":"2020-05-06T16:12:00","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=8951"},"modified":"2020-05-06T12:12:00","modified_gmt":"2020-05-06T16:12:00","slug":"yayyo-ipo-underwritten-by-aegis-allegations-of-fraud","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/yayyo-ipo-underwritten-by-aegis-allegations-of-fraud\/","title":{"rendered":"YayYo IPO, Underwritten By Aegis Capital Corp., Plagued By Allegations Of Fraud"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-8546 size-medium\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/10\/Fraud-300x200.jpg\" alt=\"Investors in YayYo (YAYO), a ride-hailing vehicle supply company, were disappointed to find out that their shares, which originally sold for $4.00 per share, are now worth pennies. A lawsuit filed in the Southern District of New York, FirstFire Global Opportunities Fund, LLC v. Aegis Capital Corp., et al., alleges that this decimation of stock value was the result of fraud. Specifically, the suit accuses the IPO underwriters, including Aegis Capital Corp., of concealing that its founder\/CEO\/director, Ramy El-Batrawi, controlled the company despite El-Batrawi\u2019s \u201ccheckered past with allegations of securities violations by the federal securities authorities,\u201d according to the Complaint.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/10\/Fraud.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/10\/Fraud-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Investors in YayYo (YAYO), a ride-hailing vehicle supply company, were disappointed to find out that their shares, which originally sold for $4.00 per share, are now worth pennies. A lawsuit filed in the Southern District of New York, <em>FirstFire Global Opportunities Fund, LLC v. Aegis Capital Corp., et al.<\/em>, alleges that this decimation of stock value was the result of fraud. Specifically, the suit accuses the IPO underwriters, including <a href=\"https:\/\/www.silverlaw.com\/aegis-capital-corp_1.html\" target=\"_blank\">Aegis Capital Corp.<\/a>, of concealing that its founder\/CEO\/director, Ramy El-Batrawi, controlled the company despite El-Batrawi\u2019s \u201ccheckered past with allegations of securities violations by the federal securities authorities,\u201d according to the Complaint. <a href=\"https:\/\/www.silverlaw.com\/blog\/yayyo-ipo-underwritten-by-aegis-allegations-of-fraud\/#more-8951\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investors in YayYo (YAYO), a ride-hailing vehicle supply company, were disappointed to find out that their shares, which originally sold for $4.00 per share, are now worth pennies. A lawsuit filed in the Southern District of New York, FirstFire Global Opportunities Fund, LLC v. Aegis Capital Corp., et al., alleges that this decimation of stock value was the result of fraud. Specifically, the suit accuses the IPO underwriters, including Aegis Capital Corp., of concealing that its founder\/CEO\/director, Ramy El-Batrawi, controlled the company despite El-Batrawi\u2019s \u201ccheckered past with allegations of securities violations by the federal securities authorities,\u201d according to the Complaint.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[590,580],"tags":[],"class_list":["post-8951","post","type-post","status-publish","format-standard","hentry","category-misrepresentation-and-omission-of-material-facts","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>YayYo IPO, Underwritten By Aegis, Plagued By Allegations Of Fraud<\/title>\n<meta name=\"description\" content=\"YayYo (YAYO) is the subject of a lawsuit that accuses the comapny&#039;s IPO underwriters, including Aegis Capital Corp., of fraud.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/yayyo-ipo-underwritten-by-aegis-allegations-of-fraud\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"YayYo IPO, Underwritten By Aegis, Plagued By Allegations Of Fraud\" \/>\n<meta name=\"twitter:description\" content=\"YayYo (YAYO) is the subject of a lawsuit that accuses the comapny&#039;s IPO underwriters, including Aegis Capital Corp., of fraud.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/10\/Fraud-300x200.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta 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fraud.","twitter_image":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/10\/Fraud-300x200.jpg","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.silverlaw.com\/blog\/yayyo-ipo-underwritten-by-aegis-allegations-of-fraud\/","url":"https:\/\/www.silverlaw.com\/blog\/yayyo-ipo-underwritten-by-aegis-allegations-of-fraud\/","name":"YayYo IPO, Underwritten By Aegis, Plagued By Allegations Of 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