RUHNN 24 HOUR DEADLINE ALERT: FORMER LOUISIANA ATTORNEY GENERAL AND KAHN SWICK & FOTI, LLC REMIND INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Deadline in Class Action Lawsuit Against Ruhnn Holding Limited - RUHN
/EIN News/ -- NEW ORLEANS, Dec. 05, 2019 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until December 6, 2019 to file lead plaintiff applications in a securities class action lawsuit against Ruhnn Holding Limited (NasdaqGS: RUHN), if they purchased the Company’s American Depositary Shares (“ADSs”) pursuant and/or traceable to the Company’s April 2019 initial public offering (the “IPO”). This action is pending in the United States District Court for the Eastern District of New York.
What You May Do
If you purchased ADSs of Ruhnn 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 (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-ruhn/ 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 December 6, 2019.
About the Lawsuit
Ruhnn and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement and Prospectus, violating federal securities laws. The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the number of the Company’s online stores had declined by nearly 40% at the time of the IPO; (ii) the number of the Company’s full-service Key Opinion Leaders had declined by nearly 44% at the time of the IPO; (iii) net revenues derived from its full-service segment had declined by 46% on a sequential basis; and (iv) as a result of the foregoing, the Company’s statements were materially false and misleading at all relevant times.
The case is Guo v. Ruhnn Holding Limited, 19-cv-5667.
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 and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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