BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased KE Holdings Inc. (“KE Holdings” or the “Company”) (NYSE: BEKE) American depository shares ("ADS") between August 13, 2020 and December 16, 2021, inclusive (the “Class Period”). KE Holdings investors have until February 28, 2022 to file a lead plaintiff motion.
Investors suffering losses on their KE Holdings investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On December 16, 2021, Muddy Waters Research, a market analyst, released a report alleging multiple problems with KE Holdings, stating that the Company is “engaged in systemic fraud,” and that its research showed that KE Holdings was overstating the agents and stores on its platforms; its gross transaction value ("GTV"); and its revenues, among other wrongdoing.
On this news, KE Holdings' share price fell $0.37, or 1.98%, to close at $18.31 per share on December 16, 2021, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants: (1) inflated the Company's GTV; (2) inflated the Company's revenues; (3) inflated the number of stores and agents using the Company's platform; and (4) that, as a result, of the foregoing, defendants' statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased KE Holdings ADSs, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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