NEW YORK, Oct. 14, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Ruhnn Holding Limited (RUHN) in connection with the April 3, 2019 Initial Public Offering (“IPO”), inclusive (the “Class Period”). The lawsuit seeks to recover damages for Ruhnn Holding Limited investors under the federal securities laws.
To join the class action, go http://pawarlawgroup.com/cases/ruhnn-holding-limited/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email email@example.com for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) at the time of the 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 6, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
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.
Pawar Law Group represents investors from around the world. Attorney advertising. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938