NEW YORK, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of MINISO Group Holding Ltd. (NYSE: MNSO).
MINISO Group Holding Ltd., a China-based investment holding company, engages in the retail and wholesale lifestyle products in China, Asia, the Americas, and Europe.
On July 26, 2022, short seller Blue Orca published a report regarding the Company alleging that it made misrepresentations about its core business model. The Report also alleges that “the chairman siphoned hundreds of millions from the public through opaque Caribbean jurisdictions as the middleman in a crooked headquarters deal.” The Report alleges “Rather than operate an asset-light, high-margin franchise model, evidence indicates that hundreds of MINISO stores ae owned and operated by Company executives or individuals closely connected to MINISO and its chairman. Accordingly, we believe that MINISO is concealing the costs of such stores from investors. Not only does this undermine the authenticity of MINISO’s reported financials but suggest that MINISO should trade at a fraction of its current share price.” Following this news, the price of a MINISO American Depository Share fell almost 15%.
If you invested in MINISO and have significant losses we would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey. With over 35 years of experience in complex litigation Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.
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If you have any questions about this Notice, your rights, or your interests, please contact:
Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: ffox@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
