The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased MINISO Group Holding Limited (NYSE: MNSO) securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with MINISO’s October 2020 initial public offering.
According to the MINISO lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) defendants and other undisclosed related parties owned and controlled a much larger amount of MINISO stores than previously stated; (2) as a result, MINISO concealed its true costs; (3) the Company did not represent its true business model; (4) defendants, including the Company and its chairman, engaged in planned unusual and unclear transactions; (5) as a result of at least one of these transactions, the Company is at risk of breaching contracts with People’s Republic of China authorities; (6) the Company would imminently and drastically drop its franchise fees; and (7) as a result, defendant’s statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you suffered a loss in MINISO you have until October 17, 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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