SAN FRANCISCO, Sept. 12, 2022 (GLOBE NEWSWIRE) — Hagens Berman is urging Missfresh Limited MF Investors who bought American Depositary Shares in Missfresh’s IPO on June 25, 2021 and suffered significant losses Submit your losses now.

Deadline for lead plaintiff: September 12, 2022
Visit: www.hbsslaw.com/investor-fraud/MF
Contact a lawyer now: [email protected]
844-916-0895

Missfresh Limited MF Securities Class Action:

The litigation is being brought on behalf of investors who purchased Missfresh securities in connection with the Company’s initial public offering in June 2021 (the “IPO” or the “Offering”).

Specifically, the Complaint alleges that Missfresh’s IPO registration statement misrepresented and failed to disclose the following: (1) Missfresh misrepresented financial figures in its registration statement; (2) Missfresh would have to change its financial numbers; (3) Missfresh had, among other things, lower net income for the quarter ended March 31, 2021; and (4) as a result, Defendants’ public statements were materially false and misleading and negligently prepared at all relevant times.

The false registration statement enabled Missfresh to go public, offer approximately 21 million American Depositary Shares (“ADSs”) to the investing public at $13.00 per share and generate $273 million in net proceeds.

However, on April 29, 2022, Missfresh announced that it would not file its financial statements on time and that it was conducting an internal investigation into transactions between it and certain third parties.

Then, on July 1, 2022, Missfresh announced that it had identified certain transactions performed by its Next-Day Delivery business unit that “showed characteristics of questionable transactions, such as: B. Undisclosed relationships between suppliers and customers, different customers or suppliers sharing the same contact information, and/or lack of supporting logistics information.” The company…