NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against Yunji, Inc. (NASDAQ: YJ) on behalf of Yunji stockholders. Our investigation concerns whether Yunji has violated the federal securities laws and/or engaged in other unlawful business practices.
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In May 2019, Yunji held its initial public offering (“IPO”), in which it sold 11 million American Depositary Shares (“ADSs”) for $11 per share.
On August 22, 2019, Yunji announced its second quarter 2019 financial results and noted that its total revenues had decreased significantly from the same period in the prior year. According to the Company, this decrease was primarily due to “a decrease in revenues from sales of merchandise, which recognizes revenues on a gross basis, as the Company shifted part of merchandise sales to its marketplace platform, which recognizes revenues on a net basis.”
On this news, Yunji’s share price fell $4.55 per share, or nearly 43%, over the following four trading sessions, closing at $6.05 per share on August 27, 2019.
Since the IPO, Yunji shares have traded as low as $4.91, or nearly 55% below the IPO price.
If you purchased or otherwise acquired Yunji shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.