A lawsuit was filed on behalf of investors in Yatsen Holding Limited (NYSE: YSG) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 10/03/2022 -- An investor, who purchased shares of Yatsen Holding Limited (NYSE: YSG), filed a lawsuit over alleged violations of Federal Securities Laws by Yatsen Holding Limited in connection with the Company's IPO on or about November 19, 2020.
Investors who purchased shares of Yatsen Holding Limited (NYSE: YSG) have certain options and for certain investors are short and strict deadlines running. Deadline: November 22, 2022. NYSE: YSG investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
China based Yatsen Holding Limited, together with its subsidiaries, engages in the development and sale of beauty products under the Perfect Diary, Little Ondine, Pink Bear, Abby's Choice, GalÃnic, DR.WU, Eve Lom, and EANTiM brands in the People's Republic of China.
On or about November 19, 2020, Yatsen Holding Limited commenced an initial public offering ("IPO"), issuing 67,562,500 American Depository Shares (ADS) to the investing public at $10.50 per share.
Shares of Yatsen Holding Limited (NYSE: YSG) rose to $11.19 per share on June 9, 2021.
Since then NYSE: YSG shares declined to as low as $0.3880 per share on May 24, 2022.
The plaintiff claims that the defendants misled investors into believing that Perfect Diary and Little Ondine were thriving, thereby driving Yatsen Holding Limited's "healthy" top-line growth at the time of its IPO and quarter after quarter thereafter and that in truth, however, cosmetic and skincare sales of Perfect Diary and Little Ondine products were declining in the period leading up to (and including at the time of) the IPO and throughout 2021 and that moreover, as the truth about Yatsen Holding Limited's business reached the market, the value of the Company's shares declined dramatically, causing Yatsen Holding Limited investors to suffer significant damages.
Those who purchased shares of Yatsen Holding Limited (NYSE: YSG) have certain options and should contact the Shareholders Foundation.
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