An investigation for investors in Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares over potential securities laws violations by Kingsoft Cloud Holdings Limited was announced.
San Diego, CA -- (SBWIRE) -- 05/25/2022 -- An investigation was announced over potential securities laws violations by Kingsoft Cloud Holdings Limited in connection with certain financial statements.
Investors who purchased shares of Kingsoft Cloud Holdings Limited (NASDAQ: KC), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Kingsoft Cloud Holdings Limited (NASDAQ: KC regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
China based Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations in China. Kingsoft Cloud Holdings Limited reported that its annual Total Revenue rose from over 3.95 billion CNY in 2019 to over 6.57 billion CNY in 2020, and that its Net Loss declined from over 1.11 billion CNY in 2019 to 962.25 million CNY in 2020.
On or around May 8, 2020, Kingsoft Cloud Holdings Limited conducted its initial public offering ("IPO"), selling 30 million American Depositary Shares ("ADSs") priced at $17.00 per ADS.
Then, on March 14, 2022, a J.P. Morgan analyst downgraded Kingsoft Cloud Holdings Limited stock from neutral to underweight, cutting its price target from $8.00 per ADS to $3.50 per ADS.
Shares of Kingsoft Cloud Holdings Limited (NASDAQ: KC) declined to as low as $2.88 per share on May 12, 2022.
Those who purchased shares of Kingsoft Cloud Holdings Limited (NASDAQ: KC) have certain options and should contact the Shareholders Foundation.
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