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Huazhu Group Limited (HTHT)

NASDAQ:HTHT

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Huazhu Group Limited To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Huazhu Group Limited (“Huazhu” or the “Company”) (NASDAQ:HTHT) of the December 7, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Huazhu stock or options between May 14, 2018 and August 28, 2018 and would like to discuss your legal rights, please fill out the form below.  There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. 

The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased Huazhu securities between May 14, 2018 and August 28, 2018 (the “Class Period”).  The case, Hayes v. Huazhu Group Ltd. et al, No. 2:18-cv-08633 was filed on October 8, 2018.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) the Company lacked adequate security measures to protect customer information; (2) as a result, the Company would be susceptible to increased litigation risk and higher expenses; and (3), as a result of the foregoing, the Company’s goodwill would potentially suffer, leading to lower revenues.

Specifically, on August 28, 2018, Reuters reported that Chinese police had been alerted to a possible data breach by the Company and were investigating a possible leak of client information. Additionally, Xinhua reported that “nearly 500 million pieces of information related to the hotel group's customers” had been posted online.

On this news, Huazhu’s share price fell from $35.53 per share on August 27, 2018 to a closing price of $33.98 on August 28, 2018—a $1.55 or a 4.36% drop.

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  • Case:
    Huazhu Group Limited (HTHT)
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Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 10/09/2018

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