Wetrade Group sued in Wyoming federal court over $12M private placement; prior 8-K deemed unauthorized

Next Technology Holding Inc.

Derivative lawsuit filed Sept 28, 2023 in Wyoming federal court against certain officers/directors, challenging share issuances to private placement investors.
Complaint alleges named defendants were no longer officers/directors as of June 30, 2023; seeks to invalidate private placement shares.
TRO motion filed same day to restrain named defendants from acting on behalf of the company.
Company believes lawsuit meritless and will vigorously defend; also claims prior Sept 28 8-K changing directors was unauthorized.
Capital raise closed Sept 27: 1,465,200 shares at $8.19/share for $12M, above last closing price.

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