Ruhnn Holding Limited. 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 Ruhnn Holding Limited (NASDAQ: RUHN) American Depositary Shares pursuant and/or traceable to the Company’s April 3, 2019 initial public offering.
According to the Ruhnn lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) at the time of the initial public offering (“IPO”), the number of Ruhnn’s online stores had declined by nearly 40%; (2) at the time of the IPO, the number of Ruhnn’s full-service Key Opinion Leaders had declined by nearly 44%; (3) as a result, the Company’s net revenues derived from its full-service segment had declined by 46% on a sequential basis; and (3) as a result, defendants’ statements about Ruhnn’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
“Ruhnn Holding Limited”
If you suffered a loss in Ruhnn you have until December 6, 2019 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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