Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Ruhnn Holding Limited To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Ruhnn Holdings Limited (“Ruhnn” or the “Company”) (NASDAQ:RUHN) of the December 6, 2019 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 Ruhnn stock or options pursuant and/or traceable to the Company’s April 3, 2019 Initial Public Offering (“IPO”) 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 firstname.lastname@example.org.
The lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all those who purchased Ruhn American Depository Shares (“ADSs”) pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with Ruhnn’s April 3, 2019 IPO. The case, Guo v. Ruhnn Holding Limited et al., No. 19-cv-05667 was filed on October 7, 2019.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing 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.
Since the IPO, in which 10 million Ruhnn ADSs were offered at a price of $12.50 per share, the Company’s share price has substantially declined.
Ruhn Holding Limited (RUHN)
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Filed on 10/14/2019
Lead Plaintiff Deadline 12/06/2019
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Richard W. Gonnello email@example.com Phone (212) 983-9330 Fax (212) 983-9331