Lawsuit filed for Investors in shares of Ruhnn Holding Limited (NASDAQ: RUHN)

An investor, who purchased shares of Ruhnn Holding Limited (NASDAQ: RUHN), filed a lawsuit over alleged Securities Laws violations by Ruhnn Holding Limited in connection with Ruhnn’s April 3, 2019 initial public stock offering (the “IPO”).

Investors who purchased shares of Ruhnn Holding Limited (NASDAQ: RUHN) have certain options and for certain investors are short and strict deadlines running. Deadline: December 6, 2019. NASDAQ: RUHN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On or about April 3, 2019, Ruhnn sold 10 million shares of stock in its initial public stock offering (the "IPO"), at $12.50 a share raising $125,000,000 in new capital. However, since the IPO, shares of Ruhnn Holding Limited (NASDAQ: RUHN) declined to as low as $3.06 per share on June 3, 2019.

The plaintiff claims that the Registration Statement that was filed with the SEC in connection with the IPO contained false and/or misleading statements and/or failed to disclose that at the time of the IPO, the number of Ruhnn’s online stores had declined by nearly 40%, that at the time of the IPO, the number of Ruhnn’s full-service Key Opinion Leaders had declined by nearly 44%, that as a result, the Company’s net revenues derived from its full-service segment had declined by 46% on a sequential basis, and that 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.

Those who purchased shares of Ruhnn Holding Limited (NASDAQ: RUHN) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.