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PRNewswire 6-Oct-2022 5:45 AM
NEW YORK, Oct. 6, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Yatsen Holding Limited ("Yatsen" or the "Company") (NYSE:YSG) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Yatsen investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of a class consisting of all persons and entities who purchased Yatsen Holding Limited American Depository Shares ("ADS") between November 19, 2020 and March 10, 2022 or acquired Yatsen ADS pursuant or traceable to documents issued in connection with Yatsen's November 2020 initial public stock offering. Follow the link below to get more information and be contacted by a member of our team:
YSG investors may also contact Joseph E. Levi, Esq. via email at email@example.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: the registration statement and prospectus used to effectuate the Company's initial public offering ("IPO"), Yatsen and the other named defendants misled investors into believing that Yatsen's most significant brands, Perfect Diary and Little Ondine, were thriving, thereby driving Yatsen's "healthy" top-line growth at the time of its IPO and quarter after quarter thereafter. In truth, however, cosmetic and skincare sales of Perfect Diary and Little Ondine products were declining in the period leading up to (and including at the time of) the IPO and throughout 2021. Moreover, as the truth about Yatsen's business reached the market, the value of the Company's shares declined dramatically, causing Yatsen investors to suffer significant damages.
WHAT'S NEXT? If you suffered a loss in Yatsen during the relevant time frame, you have until November 22, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
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SOURCE Levi & Korsinsky, LLP