Glancy Prongay & Murray LLP Reminds Investors of Impending Deadline

Glancy Prongay & Murray LLP Reminds Investors of Impending Deadline


LOS ANGELES, Oct. 12, 2022 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of what’s to come October 17, 2022 Deadline for filing a motion by lead plaintiff in the class action lawsuit filed on behalf of investors who have purchased or otherwise acquired MINISO Group Holding Limited (“MINISO” or the “Company”) MNSO Securities pursuant to and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s IPO in October 2020 (the “IPO” or the “Offering”).

If you have suffered a loss on your MINISO investments or would like to inquire about the possibility of making claims to recover your loss under the federal securities laws, you may submit your contact information at You can also contact GPM’s Charles H. Linehan at 310-201-9150, toll free at 888-773-9224, or email at [email protected] to learn more about your rights.

On October 15, 2020, MINISO completed its IPO and issued approximately 30.4 million American Depositary Shares (“ADSs”) at $20.00 per ADS.

On July 26, 2022, Blue Orca Capital released a report alleging, among other things, that MINISO is “lying about its core business model” by claiming that 99% of its operations in China are operated by independent franchises. However, an investigation shows that over 620 allegedly independent franchises are registered under the names of MINISO executives or people “closely associated” with the company’s chief executive officer.

As a result of this news, MINISO’s ADS price fell by $1.08 or 15% to close at $6.13 per ADS on July 26, 2022, causing damage to investors.

The complaint filed in this class action alleges that the defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, Defendants have failed to disclose to investors: (1) Defendants and other undisclosed affiliated…

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