NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 13, 2020 to file lead plaintiff applications in a securities class action lawsuit against Yunji Inc. (NasdaqGM: YJ), if they purchased the Company’s American Depositary Shares (“ADSs”) in connection with the Company’s May 2019 initial public offering (“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 Yunji 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 ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgm-yj/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 13, 2020.
About the Lawsuit
Yunji 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 Company was restructuring its supply chain to shift part of its merchandise sales to its marketplace platform; (ii) this restructuring was likely to disrupt Yunji’s relationships with suppliers; (iii) this restructuring was likely to have an adverse impact on the Company’s financial results; and (iv) as a result of the foregoing, the Company’s statements were materially false and misleading at all relevant times.
The case is Chen v. Yunji Inc., 19-cv-06403.
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.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner