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SAN DIEGO, May 25, 2021 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against So-Young International Inc. (NASDAQ: SY) ("So-Young") for violations of federal securities laws.
So-Young operates an online platform for medical aesthetics and consumption healthcare services focusing on discretionary medical treatments. Its platform enables users to discover content and share their own experience on medical aesthetics procedures and leads users to reserve treatment services from medical aesthetic service providers for offline treatment in the People's Republic of China and internationally.
So-Young, went public in May 2019, at $13.80 a share, raising $179,400,000 in new capital. However, since the IPO, So-Young stock has tumbled, on May 24, 2021, the stock closed at $9.14.
On May 6, 2021, Blue Orca Capital published a report regarding So-Young, wherein the report detailed a series of alarming red flags about So-Young. Specifically, the report stated, that the Company "estimate[s] that SY exaggerates the bookings from these clinics by at least 4-5x during the period we monitored. We think this indicates, persuasively, that SY is inflating both the popularity of its platform and its reported revenues."
The investigation focuses on whether the Company issued false and misleading statements and failed to disclose information pertinent to investors.
If you have information that could assist in this investigation, or if you are a So-Young shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
SOURCE Johnson Fistel, LLP