Bragar Eagle & Squire, PC reminds investors of this class

Bragar Eagle & Squire, PC reminds investors of this class


NEW YORK, Oct. 05, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that class action lawsuits can be filed on behalf of shareholders of MINISO Group Holding Limited (NYSE: MNSO ), Co-Diagnostics, Inc. (NASDAQ:CODX), Ampio Pharmaceuticals, Inc. (NYSEAmerican:AMPE) and Sinovac Biotech Ltd (NASDAQ:SVA). Shareholders have until the deadlines below to petition the court to appear as lead plaintiffs. For more information on each case, see the link provided.

MINISO Group Holding Limited (NYSE:MNSO)

Collection Period: As per the Company’s IPO dated October 15, 2020

Lead Plaintiff Deadline: October 17, 2022

MINISO claims to be a fast growing global retailer that supplies consumers primarily through its large network of MINISO stores. On October 15, 2020, the defendants completed the IPO and, pursuant to the registration statement, issued approximately 30.4 million American Depositary Shares (“ADSs”) to the investing public at $20.00 per ADS.

On July 26, 2022, market researcher Blue Orca Capital published a report on MINISO claiming several issues with MINISO including “in contrast to [MINISO]’s claims, many MINISO stores secretly belong [MINISO] Executives or insiders closely associated with the Chairman” and “[u]Ultimately, we believe there is overwhelming evidence that MINISO is misleading the market about its core business.” As Blue Orca explained: “[o]Our suspicion is that MINISO realized early in the pre-IPO process that a brick-and-mortar retailer would be far less attractive to investors than an asset-light franchise, so we believe that [MINISO] just lied about those stores.” Blue Orca added that “Chinese company records also suggest, in our view, that the chairman siphoned hundreds of millions from the public company through opaque Caribbean jurisdictions as a middleman in a crooked headquarters deal.” Blue Orca continued …

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