NEW YORK, Sept. 09, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Missfresh Limited (“Missfresh” or the “Company”) (NASDAQ: MF). Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether Missfresh and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On or about June 25, 2021, Missfresh completed its initial public offering (“IPO”), selling approximately 21 million American Depositary Shares (“ADSs”) at a price of $13.00 per share.

On April 29, 2022, Missfresh filed a Form 12b-25 Late Filing Notice with the Securities and Exchange Commission announcing that Missfresh would discontinue its 2021 Annual Report on Form 20-F due to an ongoing “internal review of certain matters, including those relating to transactions between the Company and certain third party companies”. On the news, Missfresh’s ADS fell $0.068 per ADS, or 13.2%, to close at $0.448 per ADS.

Then, on May 24, 2022, Missfresh announced that the company was unable to file its 2021 annual report by the extended deadline, “primarily because the company is unable to complete the audit of the company’s financial statements for the year ended December 31st, 2021″. As a result of this news, Missfresh’s ADS fell $0.018 per share, or 9.7%, in the following two trading days to close at $0.167 per ADS on May 26, 2022.

Finally, on July 1, 2022, Missfresh issued a press release titled “Missfresh Announces Significant Completion of Independent Internal Review Led by the Audit Committee,” which disclosed, among other things, that the Company’s review “identified certain transactions . . . exhibit the characteristics of questionable transactions, such as