ACCESS Newswire
21 Nov 2022, 07:25 GMT+10
NEW ORLEANS, LA / ACCESSWIRE / November 20, 2022 / Kahn Swick & Foti, LLC ('KSF') and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 22, 2022 to file lead plaintiff applications in a securities class action lawsuit against Yatsen Holding Limited (NYSE: YSG), if they purchased the Company's American Depository Shares ('ADS') between November 19, 2020 and March 10, 2022, inclusive (the 'Class Period') and/or pursuant to the Company's November 2020 initial public offering (the 'IPO'). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased ADS of Yatsen as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ysg/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by November 22, 2022.
About the Lawsuit
Yatsen and certain of its executives are charged with failing to disclose material information during the Class Period and/or in the Registration Statement and Prospectus issued in conjunction with the initial public offering, violating federal securities laws.
On March 10, 2022, the Company released its fourth quarter and full year financial results for the period ended December 31, 2021, disclosing declines in both total net revenues for the fourth quarter of 22.1% and in gross sales for the fourth quarter of 17.2% due to 'soft consumer demand and intense competition in the color cosmetics segment,' including issues with its Perfect Diary brand as well as its Little Ondine brand.
On this news, the price of Yatsen's ADS plummeted, falling 39.5% to close at just over $0.75 per share on March 10, 2022.
The case is Maeshiro v Yatsen Holding Limited, et al., No. 22-cv-08165.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients - including public institutional investors, hedge funds, money managers and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE: Kahn Swick & Foti, LLC
Get a daily dose of Hawaii Telegraph news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Hawaii Telegraph.
More InformationEVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered...
BEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not...
]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
TORONTO, Canada: Harvard University and the University of Toronto have created a backup plan to ensure Harvard graduate students continue...
NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...
TORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...
Vancouver, Canada: A high-stakes legal showdown is brewing in the world of athleisure. Lululemon, the Canadian brand known for its...
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...
NEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...
WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...