NEW ORLEANS, Oct. 11, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds 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.
Yatsen investors should visit us at https://claimsfiler.com/cases/nyse-ysg/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
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.
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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