Lawsuit filed for Investors in shares of Phoenix Tree Holdings Limited (NYSE: DNK)
purchased shares of Phoenix Tree Holdings Limited (NYSE: DNK), you have certain options and for certain investors are short and strict deadlines running. Deadline: June 26, 2020. NYSE: DNK investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
China based Danke, one of the largest co-living platforms in China with the fastest growth, is redefining the residential rental market through technology and aims to help people live better. On or about January 22, 2020, Phoenix Tree Holdings Limited sold 9.6 million shares of stock in its initial public stock offering (the "IPO"), at $13.50 a share raising $130 million in new capital.
On March 25, 2020, Phoenix Tree Holdings Limited announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2019. Phoenix Tree Holdings Limited told investors that it expected the coronavirus to adversely affect its financial performance for the nearly completed first quarter of 2020. Information regarding ongoing renter complaints also reached the market after the IPO, adversely affecting the Company.
Since the IPO, Phoenix Tree Holdings Limited shares declined to as low as $5.41 per share on April 6, 2020.
The plaintiff claims that the Offering Materials issued in connection with the IPO omitted or otherwise misrepresented the nature and level of renter complaints the Company had received before and as of the IPO, as well as the demand in the Chinese residential rental market and the Company's exposure to significant adverse developments resulting from the onset of the coronavirus in China - particularly in Wuhan - at the time of the IPO. After the IPO, reports emerged indicating that Phoenix was experiencing ongoing problems due to the coronavirus, which was causing financial and other harm to tenants.
Those who purchased shares of Phoenix Tree Holdings Limited (NYSE: DNK) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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San Diego, CA 92108
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.
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