LOS ANGELES–(BUSINESS WIRE)–$YJ #YJ—The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Yunji Inc. (“Yunji” or “the Company”) (NASDAQ: YJ) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Yunji completed its initial public offering (“IPO”) in May 2018, selling 11 million American Depositary Shares (“ADSs”) for $11 per share. Yunji admitted on August 22, 2019, that its revenues had decreased substantially year-over-year, blaming “primarily . . . a decrease in revenues from sales of merchandise, which recognizes revenues on a gross basis, as the Company shifted part of merchandise sales to its marketplace platform, which recognizes revenues on a net basis.” Based on this news, shares of Yunji plunged nearly 43% on August 27, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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Contacts
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
Cell: 424-303-1964
[email protected]
www.schallfirm.com
