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ROSEN, GLOBALLY RECOGNIZED INVESTOR COUNSEL, Encourages BlueCity Holdings Limited Investors with Losses Exceeding $100K to Secure Counsel - BLCT

·3 min read

NEW YORK, May 18, 2021 /PRNewswire/ --

Rosen Law Firm, P.A. Logo
Rosen Law Firm, P.A. Logo

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the American depositary shares ("ADSs") of BlueCity Holdings Limited (NASDAQ: BLCT) pursuant and/or traceable to the offering documents issued in connection with the Company's initial public offering conducted on or about July 8, 2020 (the "IPO" or "Offering") to secure counsel in the securities class action lawsuit.

SO WHAT: If you purchased BlueCity ADSs pursuant and/or traceable to the Company's IPO you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the BlueCity class action, go to http://www.rosenlegal.com/cases-register-2092.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020 founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, the offering documents were negligently prepared and were false or misleading or failed to disclose that: (1) defendants had overstated BlueCity's business and financial prospects; (2) BlueCity was ill-equipped to absorb the costs of becoming a publicly traded company, including IPO- and growth-related costs; (3) as a result of all the foregoing, defendants had misrepresented the Company's capability for sustainable growth; and (4) as a result, the offering documents were materially false or misleading and failed to state information required to be stated therein. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the BlueCity class action, go to http://www.rosenlegal.com/cases-register-2092.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as a lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

Cision
Cision

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SOURCE Rosen Law Firm, P.A.