Tengjun Biotechnology Corp.
|Company Name||Tengjun Biotechnology Corp.|
On September 5, 2023, Tengjun disclosed that its previously issued financial statements for the fiscal year ended December 31, 2022 should “no longer be relied upon due to accounting methodology errors” and that it plans to restate its financial statements by amending its annual report on Form 10-K for the fiscal year ended December 31, 2022 “as soon as reasonably practicable.”
On this news, Tengjun’s share price fell $3.15, or 17.6%, to close at $14.71 per share on September 5, 2023, thereby injuring investors.
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