Press release
Investigation announced for Long-Term Investors in shares of Cloopen Group Holding Limited (NYSE: RAAS)
An investigation on behalf of investors in Cloopen Group Holding Limited (NYSE: RAAS) shares over potential wrongdoing.
Investors who purchased shares of Cloopen Group Holding Limited (NYSE: RAAS) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Cloopen Group Holding directors breached their fiduciary duties and caused damage to the company and its shareholders.
China based Cloopen Group Holding Limited, through its subsidiaries, provides cloud-based communications solutions in the People's Republic of China. Cloopen Group Holding Limited reported that its annual Total Revenue rose from over 650.28 million CNY in 2019 to 767.68 million CNY in 2020, and that its Net Loss increased from 183.49 million CNY in 2019 to 499.84 million CNY in 2020
Cloopen Group Holding Limited conducted its initial public stock offering (the "IPO") in February 2021. Cloopen Group Holding Limited sold 20 million ADS at $16.00 per share, for a total offering size of $320 million. Since then NYSE: RAAS shares declined to as low as $8.79 per share on May 11, 2021.
Those who purchased shares of Cloopen Group Holding Limited (NYSE: RAAS) have certain options and should contact the Shareholders Foundation.
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 lawsuits, 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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