Ruhnn Holding Limited (Nasdaq: RUHN)
A class action has been filed in the United States District Court for the Eastern District of New York on behalf of purchasers of Ruhnn Holding Limited (Nasdaq: RUHN) securities during the period between March 31, 2019, through October 7, 2019, (the “Class Period”).
According to the complaint, the Company's Registration Statement contained false and/or misleading statements and/or failed to disclose that: (1) at the time of the IPO, the number of Ruhnn's online stores had declined by nearly 40%; (2) at the time of the IPO, the number of Ruhnn's full-service Key Opinion Leaders had declined by nearly 44%; (3) as a result, the Company's net revenues derived from its full-service segment had declined by 46% on a sequential basis; and (3) as a result, defendants' statements about Ruhnn's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Since the IPO, and as a result of the disclosure of material adverse facts omitted from Ruhnn's Registration Statement, Ruhnn ADSs have fallen substantially below their IPO price, damaging Ruhnn shareholders.
If you are a current shareholder and/or purchased stock during the period between March 31, 2019, through October 7, 2019, and would like to discuss your options of exercising your rights as a shareholder, please contact us.
Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.