SAN DIEGO, Dec. 13, 2021 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in Cloopen Group Holding Limited (NYSE: RAAS) shares.
Investors who purchased in excess of $200,000 in shares of Cloopen Group Holding Limited (NYSE: RAAS) have certain options and there are short and strict deadlines running. Deadline: February 8, 2022. Those NYSE: RAAS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On December 10, 2021, a lawsuit was filed against Cloopen Group Holding Limited over alleged securities laws violations. The plaintiff alleges that the Registration Statement that was filed in connection with the Company's February 2021 the initial public offering (“IPO”) failed to disclose that, Cloopen Group Holding Limited 's growth strategy was allegedly not working, and its existing customers were abandoning the Company.
The plaintiff further alleges that the Registration Statement failed to disclose that an increasing number of Cloopen Group Holding Limited 's customers were refusing to pay, forcing the Company to record massive increases in its accounts receivables and allowance for doubtful accounts, and that the Registration Statement also allegedly failed to disclose that Cloopen Group Holding Limited was weighed down by huge liabilities related to the fair value of certain recently-granted warrants.
Those who purchased Cloopen Group Holding Limited (NYSE: RAAS) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
