NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Yatsen Holding Ltd. (“Yatsen” or the “Company”) (NYSE: YSG) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired Yatsen securities between November 19, 2020 and March 10, 2022, both dates inclusive, or pursuant to the Company’s November 19, 2020 IPO (the “Class Period”). Investors have until November 22, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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Yatsen operates in the Chinese cosmetics market, generating substantially all of its net revenue from the sale of beauty products under the Perfect Diary and Little Ondine brands.
According to the complaint filed in the Southern District of New York, during the Class Period, including in the registration statement and prospectus used to effectuate the Company’s IPO, Yatsen and the other named defendants misled investors into believing that Perfect Diary and Little Ondine were thriving, thereby driving Yatsen’s “healthy” top-line growth at the time of its IPO and quarter after quarter thereafter. 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. Moreover, as the truth about Yatsen’s business reached the market, the value of the Company’s shares declined dramatically, causing Yatsen investors to suffer significant damages.
By the commencement of the action, Yatsen’s shares traded as low as $0.39 per ADS, representing a decline of over 96% from the $10.50 IPO offering price.
If you purchased or otherwise acquired Yatsen shares and suffered a loss, are a long-term stockholder, 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 email@example.com, 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, California, and South Carolina. 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.