Class action lawsuit filed, Johnson

Class action lawsuit filed, Johnson


SAN DIEGO, Sept. 28, 2022 (GLOBE NEWSWIRE) — Shareholder Rights Law Firm Johnson Fistula, LLP announces that a class action lawsuit has been commenced on behalf of investors in MINISO Group Holding Limited (NYSE: MNSO). The Class Action is being brought on behalf of shareholders who hold MINISO pursuant to and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with MINISO’s October 2020 initial public offering (the “IPO”). Investors are hereby notified that they have until October 17, 2022 to petition 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 being a lead plaintiff, please contact Jim Baker ([email protected]) by email or phone at 619-814-4471. When emailing, please include your phone number.

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According to the lawsuit, the registration statement contained false and/or misleading information and/or failed to disclose that: (1) defendants and other undisclosed related parties owned and controlled a much larger number of MINISO stores than previously disclosed; (2) as a result, MINISO concealed its true costs; (3) the company has not presented its true business model; (4) Defendants, including the Company and its CEO, involved in contemplated unusual and unclear transactions; (5) as a result of at least one of these transactions, the Company is at risk of breaching contracts with Chinese authorities; (6) the company would immediately and drastically reduce its franchise fees; and (7) as a result, Defendants’ statements about the Company’s business, operations and prospects were materially false and misleading and/or lacked any reasonable basis at all…

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