The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased First High-School Education Group Co., Ltd. (NYSE: FHS) American Depositary Shares in or traceable to the Company’s March 2021 initial public offering.
According to the FHS lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (a) the new rules, regulations and policies to be implemented by the Chinese government following the Two Sessions parliamentary meetings were far more severe than represented to investors and posed a material adverse threat to the Company and its business; (b) contemplated Chinese regulations and rules regarding private education were leading to a slowdown of government approval to open new educational facilities which would have a negative effect on FHS’s enrollment and growth; and (c) as a result, representations made in connection with the Company’s initial public offering regarding FHS’s historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of the Company at the time of the initial public offering, and were materially false and misleading and lacked a factual basis.
If you suffered a loss in FHS you have until July 11, 2022 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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