An investigation on behalf of current long term investors in BlueCity Holdings Limited (NASDAQ: BLCT) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 10/11/2021 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of BlueCity Holdings Limited.
Investors who are current long term investors in BlueCity Holdings Limited (NASDAQ: BLCT) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: BLCT stocks follows a lawsuit filed against BlueCity Holdings Limited (over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: BLCT stocks, concerns whether certain BlueCity Holdings Limited directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the Registration Statement that was filed in connection with the IPO contained false and/or misleading statements and/or failed to disclose that Defendants had overstated BlueCity's business and financial prospects, that BlueCity was ill-equipped to absorb the costs of becoming a publicly traded company, including IPO- and growth-related costs, that as a result of all the foregoing, Defendants had misrepresented BlueCity's capability for sustainable growth, and that as a result, the Offering Documents were materially false or misleading and failed to state information required to be stated therein
Those who purchased shares of BlueCity Holdings Limited (NASDAQ: BLCT) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.