|Company name||Ruhnn Holding Ltd.|
|Status||Class Action Complaint Filed|
NEW YORK, November 27, 2019 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all investors that purchased Ruhnn Holding Limited (NASDAQ: RUHN) securities pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with Ruhnn’s April 3, 2019 initial public stock offering (the “IPO” or the “Offering”). Investors have until December 6, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint, filed on September 8, 2019, alleges that the 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.
Ruhnn’s stock is currently trading at $6.59 per share, an over 47% decrease from its $12.50 IPO price.
If you purchased or otherwise acquired Ruhnn shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.