NEW YORK, Feb. 03, 2020 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit on behalf of shareholders who purchased shares of Baozun Inc. (BZUN) from March 6, 2019 through November 20, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Baozun Inc. investors under the federal securities laws.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 10, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that (1) Huawei Technologies Co., Ltd. (“Huawei”), a Chinese-based multi-national technology company, was one of the Company’s largest brand partners, and paid more add-on fees for the work Baozun did for it, increasing the revenues Baozun received for Huawei work compared to the Company’s other brand partners; (2) as a result, Baozun reported outsized revenue growth during the first half of 2019, which would be abruptly cut off during the second half 2019, after Baozun restructured its relationship with Huawei, as Huawei took much of its online merchandizing in-house; and (3) as a result, Baozun’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff. Attorney advertising.
Pawar Law Group represents investors from around the world.
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1410
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938