BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of MINISO Group Holding Limited (“MINISO” or the “Company”) (NYSE: MNSO) investors concerning the Company’s possible violations of federal securities laws.
On July 26, 2022, Blue Orca Capital published a report alleging, among other things, that MINISO “lies about its core business model” by claiming that 99% of its stores in China are operated by independent franchises. However, an investigation shows that over 620 supposedly independent franchises are registered under the names of MINISO executives or individuals “closely connected” to the Company’s chairman.
On this news, MINISO’s American Depository Share (“ADS”) price fell $1.08, or 15%, to close at $6.13 per ADS on July 26, 2022, thereby injuring investors.
If you purchased MINISO securities, 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 email@example.com, or visit our website at www.howardsmithlaw.com.
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