Press release
Investigation announced for Investors in Kingsoft Cloud Holdings Limited (NASDAQ: KC) over potential Wrongdoing
An investigation on behalf of investors in Kingsoft Cloud Holdings Limited (NASDAQ: KC) shares over potential wrongdoing.
Investors who purchased shares of Kingsoft Cloud Holdings Limited (NASDAQ: KC) 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 Kingsoft Cloud Holdings directors breached their fiduciary duties and caused damage to the company and its shareholders.
China based Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations in China. Kingsoft Cloud Holdings Limited reported that its annual Total Revenue rose from over 3.95 billion CNY in 2019 to over 6.57 billion CNY in 2020, and that its Net Loss declined from over 1.11 billion CNY in 2019 to 962.25 million CNY in 2020.
On or around May 8, 2020, Kingsoft Cloud Holdings Limited conducted its initial public offering ("IPO"), selling 30 million American Depositary Shares ("ADSs") priced at $17.00 per ADS.
Then, on March 14, 2022, a J.P. Morgan analyst downgraded Kingsoft Cloud Holdings Limited stock from neutral to underweight, cutting its price target from $8.00 per ADS to $3.50 per ADS.
Shares of Kingsoft Cloud Holdings Limited (NASDAQ: KC) declined to $3.02 per share on May 9, 2022.
Those who purchased shares of Kingsoft Cloud Holdings Limited (NASDAQ: KC) have certain options and should contact the Shareholders Foundation.
Contact:
Christopher Clausen
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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