SAN DIEGO, Sept. 23, 2022 (GLOBE NEWSWIRE) — Shareholder Rights Law Firm Johnson Fistula, LLP announces that a class action lawsuit has been filed on behalf of investors in Yatsen Holding Limited YSG (“Yatsen” or the “Company”). The Class Action is being brought on behalf of shareholders who purchased or otherwise acquired Yatsen American Depository Shares (“ADS”) between November 19, 2020 and March 10, 2022 (the “Class Period”), including on, pursuant to and/or through to the IPO of the company understandable. Investors are hereby notified that they have until November 22, 2022 to request the court to appear as lead plaintiff in this lawsuit.
What actions can I take at this time? If you have suffered a loss and would like to learn more about whether you are a Lead Plaintiff, please contact Jim Baker ([email protected]) via email or phone at 619-814-4471. When emailing, please include your phone number.
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According to the lawsuit filed, Yatsen and the other named defendants misled investors into believing that Perfect Diary and Little Ondine were successful throughout the class-action period, including the registration statement and IPO prospectus, thereby fueling Yatsen’s “healthy” revenue growth at the time of the IPO and quarterly thereafter. In truth, however, cosmetics and skincare sales of Perfect Diary and Little Ondine products were down in the period leading up to (and including) the IPO and throughout 2021. Moreover, when the truth about Yatsen’s business reached the market, the value of the company’s shares fell dramatically, causing significant damage to Yatsen’s investors.
A lead plaintiff will act on behalf of all other group members in directing the Yatsen class action. The lead plaintiff may select a law firm of its choice to conduct the class action. A…
Read full story here https://www.benzinga.com/pressreleases/22/09/g28996785/yatsen-class-action-complaint-filed-johnson-fistel-encourages-shareholders-to-contact-the-firm