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Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Maison Solutions, Dada, Future FinTech, and AlloVir and Encourages Investors to Contact the Firm

Globe Newswire 12-Feb-2024 9:00 PM

NEW YORK, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Maison Solutions Inc. (NASDAQ:MSS), Dada Nexus Ltd. ADR (NASDAQ:DADA), Future FinTech Group Inc. (NASDAQ:FTFT), and AlloVir, Inc. (NASDAQ:ALVR). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

Maison Solutions Inc. (NASDAQ:MSS)

Class Period: (a) Class A common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the "Registration Statement") issued in connection with the Company's October 2023 initial public offering ("IPO" or the "Offering"); and/or (b) securities between October 5, 2023 and December 15, 2023

Lead Plaintiff Deadline: March 4, 2024

On May 22, 2023, Maison Solutions filed a registration statement on Form S-1, which after six amendments (and three post-effective amendments) was declared effective on September 29, 2023.

On October 5, 2023, Maison Solutions filed a prospectus on Form 424B4 with the SEC in connection with the IPO, which incorporated and formed part of the Registration Statement (the "Prospectus" and, together with the Registration Statement, the "Offering Documents").

Between October 5, 2023 and October 10, 2023, Maison Solutions conducted the IPO pursuant to the Offering Documents, issuing 2,500,000 common shares of the Company's securities to the public at the Offering price of $4.00 per share, of which approximately $10,000,000 went to the Company as proceeds before expenses and after applicable underwriting discounts and
commissions.

According to the filed complaint, the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Specifically, the Offering Documents were false or misleading or failed to disclose that: (1) the Company had engaged with auditors and underwriters with poor respective track records for its IPO; (2), the Company's principal vendor is an undisclosed related party; (3) Defendant Xu has had past legal issues as a result of his business conduct.

For more information on the Maison Solutions class action go to: https://bespc.com/cases/MSS

Dada Nexus Ltd. ADR (NASDAQ:DADA)

Class Period: May 11, 2023 - January 8, 2024

Lead Plaintiff Deadline: March 11, 2024

According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Dada revenues from online advertising, marketing services, and operations and support costs were materially overstated; (2) as a result, Dada would need to conduct an independent review to ascertain the financial impact and the scope of suspicious practices that led to overstated revenues and costs; and (3) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

For more information on the Dada class action go to: https://bespc.com/cases/DADA

Future FinTech Group Inc. (NASDAQ:FTFT)

Class Period: March 10, 2020 - January 11, 2024

Lead Plaintiff Deadline: March 18, 2024

According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Defendant Shanchun Huang manipulated the price of Future FinTech stock; (2) Defendant Huang and Future FinTech lied to the Securities and Exchange Commission about the nature of Defendant Huang's ownership of Future FinTech stock; (3) Future FinTech understated its legal risk; (4) Future FinTech did not disclose the unlawful measures Defendant Huang took to prop up the price of its stock; and (5) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

For more information on the Future FinTech class action go to: https://bespc.com/cases/FTFT

AlloVir, Inc. (NASDAQ:ALVR)

Class Period: March 22, 2022 - December 21, 2023

Lead Plaintiff Deadline: March 19, 2024

The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the posoleucel Phase 3 Studies were unlikely to meet their primary endpoints; (ii) as a result, it was likely that the Company would ultimately discontinue the posoleucel Phase 3 studies; (iii) accordingly, AlloVir overstated the efficacy and clinical and/or commercial prospects of posoleucel; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

On December 22, 2023, AlloVir announced that it was discontinuing the posoleucel Phase 3 studies over efficacy concerns and stated that it would explore strategic alternatives for the Company. Specifically, AlloVir said it was discontinuing the posoleucel Phase 3 studies after pre-planned analyses concluded they wouldn't meet their primary endpoints.

On this news, AlloVir's stock price fell $1.57 per share, or 67.38%, to close at $0.76 per share on December 22, 2023.

For more information on the AlloVir class action go to: https://bespc.com/cases/ALVR

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com

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