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Investigation Details
On December 14, 2023, Hywin disclosed that redemption issues had been reported on certain asset-backed products previously distributed by the Company with clients demanding repayment from the Company. Hywin stated that it would be conducting an internal investigation.
On this news, Hywin’s stock price fell 16%, to close at $2.77 per share on December 14, 2023, thereby injuring investors.
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