The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of investors who purchased Yunji Inc. (NASDAQ: YJ) American Depositary Shares pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s May 2019 initial public offering.
According to the Yunji Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was shifting certain of its sales to its marketplace platform; (2) this supply chain restructuring was likely to disrupt Yunji’s relationships with suppliers; (3) this supply chain restructuring was likely to have an adverse impact on the Company’s financial results; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in Yunji Inc. you have until January 13, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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