NEW ORLEANS--(BUSINESS WIRE)--
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 6, 2019 to file lead plaintiff applications in a securities class action lawsuit against Ruhnn Holding Limited (RUHN), if they purchased the Company’s American Depositary Shares (“ADSs”) pursuant and/or traceable to the Company’s April 2019 initial public offering (the “IPO”). This action is pending in the United States District Court for the Eastern District of New York.
What You May Do
If you purchased ADSs of Ruhnn and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-ruhn/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 6, 2019.
About the Lawsuit
Ruhnn and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement and Prospectus, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the number of the Company’s online stores had declined by nearly 40% at the time of the IPO; (ii) the number of the Company’s full-service Key Opinion Leaders had declined by nearly 44% at the time of the IPO; (iii) net revenues derived from its full-service segment had declined by 46% on a sequential basis; and (iv) as a result of the foregoing, the Company’s statements were materially false and misleading at all relevant times.
The case is Guo v. Ruhnn Holding Limited, 19-cv-5667.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.