LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Ruhnn Holding Limited (“Ruhnn” or “the Company”) (NASDAQ: RUHN) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with Ruhnn’s April 3, 2019 initial public stock offering (the “IPO”), are encouraged to contact the firm before December 6, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Ruhnn’s online store count had declined by about 40% at the time of its IPO. At the same time, the Company’s number of full-service Key Opinion Leaders had declined by about 44%. This caused the Company’s revenue from the full-service segment to decline by 46% sequentially. Based on these facts, the Company’s public statements throughout the IPO period were false and materially misleading. When the market learned the truth about Ruhnn, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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