NEW YORK, Aug. 22, 2022 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of investors who purchased or otherwise acquired the American Depositary Receipts (“ADR’s”) of MINISO Group Holding Limited ("MINISO" or "the Company") (NYSE:MNSO), pursuant and/or traceable to the registration statement and related prospectus (collectively, the "Registration Statement") issued in connection with MINISO's October 2020 initial public offering at $20.00 per share (“the "IPO").
All investors who purchased the ADR’s of MINISO Group Holding Limited and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses in the ADR’s of MINISO Group Holding Limited, you may, no later than October 17, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the ADR’s of MINISO Group Holding Limited.
PLEASE CLICK HERE TO JOIN CASE
The filed Complaint alleges that the Registration Statement featured false and/or
misleading statements and/or failed to disclose that:
- defendants and other undisclosed related parties owned and controlled a much larger amount of
MINISO stores than previously stated; - as a result, MINISO concealed its true costs;
- the Company did not represent its true business model;
- defendants, including the Company and its Chairman, engaged in planned unusual
and unclear transactions; - as a result of at least one of these transactions, the Company is at risk of breaching contracts with Chinese authorities;
- the Company would imminently and drastically drop its franchise fees; and
- as a result, Defendants' statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
