openPR Logo
Press release

Lawsuit filed for Investors in shares of MINISO Group Holding Limited (NYSE: MNSO)

08-23-2022 01:38 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in MINISO Group Holding Limited (NYSE: MNSO) shares.

A lawsuit was filed on behalf of investors in MINISO Group Holding Limited (NYSE: MNSO) shares.

An investor, who purchased shares of MINISO Group Holding Limited (NYSE: MNSO), filed a lawsuit over alleged Securities Laws violations by MINISO Group Holding Limited in connection with MINISO's October 2020 initial public offering (the "IPO").

Investors who purchased shares of MINISO Group Holding Limited (NYSE: MNSO) have certain options and for certain investors are short and strict deadlines running. Deadline: October 17, 2022. NYSE: MNSO investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

China based MINISO Group Holding Limited, an investment holding company, engages in the retail and wholesale of lifestyle products in China, Asia, the Americas, and Europe.

MINISO Group Holding Limited raised about $656 million in its US initial public offering ("IPO") in October 2020 at a IPO price of $20 per ADS.

On July 26, 2022, during trading hours, market analyst Blue Orca Capital published a report regarding MINISO Group Holding Limited which alleges several issues with the Company including that "MINISO Lies about its Core Business Model" because "MINISO claims that 99% of its stores in China, its key market, are operated by franchisees independent from the Company. … Through our investigation, … we found over 620 supposedly independent franchises, which, according to Chinese corporate records, are registered under the names of MINISO executives or individuals closely connected to the Company's chairman[,]" and "MINISO Admitted in Chinese Media that 40% of Stores Directly Owned." The report further alleges that "IPO Proceeds Siphoned by Chairman through Crooked Headquarters Deal." Finally, the report alleges that MINISO is a "Retailer In Decline: Shrinking Revenues, Falling Franchise Fees and Store Closures[,]" due in part to "Franchise Fees Dropped by 63%, Indicating Lagging Interest."

Shares of MINISO Group Holding Limited (NYSE: MNSO) declined to as low as $5.41 per share on July 27, 2022.

The plaintiff claims that the Registration Statement featured false and/or misleading statements and/or failed to disclose that defendants and other undisclosed related parties owned and controlled a much larger amount of MINISO stores than previously stated, that as a result, MINISO concealed its true costs, that the Company did not represent its true business model, that defendants, including the Company and its Chairman, engaged in planned unusual and unclear transactions, that as a result of at least one of these transactions, the Company is at risk of breaching contracts with Chinese authorities, that the Company would imminently and drastically drop its franchise fees, and that as a result, Defendants' statements about the Company'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 MINISO Group Holding Limited (NYSE: MNSO) 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.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Lawsuit filed for Investors in shares of MINISO Group Holding Limited (NYSE: MNSO) here

News-ID: 2712325 • Views: 389

More Releases from Shareholders Foundation

Investigation announced for Investors in shares of Surmodics, Inc. (NASDAQ: SRDX …
An investigation was announced over potential securities laws violations by Surmodics, Inc. in connection with certain financial statements. Investors who purchased shares of Surmodics, Inc. (NASDAQ: SRDX), 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 focuses on possible claims on behalf of purchasers of the securities of Surmodics, Inc. (NASDAQ: SRDX) concerning whether a series of statements
Lawsuit filed for Investors who lost money with shares of Sotera Health Company …
An investor, who purchased shares of Sotera Health Company (NASDAQ: SHC), filed a lawsuit in the U.S. District Court for the Northern District of Ohio over alleged violations of Federal Securities Laws by Sotera Health Company ("Sotera" or the "Company"), certain of the Company's current and former senior executives, members of the Company's Board of Directors, Sotera's private equity shareholders, and the underwriters of the November 20, 2020, initial public
Investors who lost money with shares of Benson Hill, Inc. (NYSE: BHIL) should co …
An investigation was announced for investors of Benson Hill, Inc. (NYSE: BHIL) shares over potential securities laws violations by Benson Hill, Inc. Investors who purchased shares of Benson Hill, Inc. (NYSE: BHIL), 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 focuses on whether a series of statements by Benson Hill, Inc. (NYSE: BHIL regarding its business, its
Deadline coming up in Lawsuit for Investors in The Gap, Inc. (NYSE: GPS) shares
A deadline is coming up on February 3, 2022 in the lawsuit filed for certain investors of The Gap, Inc. (NYSE: GPS) over alleged securities laws violations by The Gap, Inc. Investors who purchased shares of The Gap, Inc. (NYSE: GPS) have certain options and there are strict and short deadlines running. Deadline: February 3, 2022. NYSE: GPS stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 -

All 5 Releases


More Releases for MINISO

Water-drop Makeup Puff Market Size, Forecasts, Emerging Trends, Research Report …
Latest Trending Report on Water-drop Makeup Puff Market Los Angeles-United States: The report titled Water-drop Makeup Puff Market is one of the most comprehensive and important additions to Stratagem Market Insights archive of market research studies. It offers detailed research and analysis of key aspects of the Water-drop Makeup Puff market. The market analysts authoring this report have provided in-depth information on leading growth drivers, restraints, challenges, trends, and opportunities to
Investigation announced for Investors in shares of MINISO Group Holding Limited …
An investigation was announced concerning potential securities laws violations by MINISO Group Holding Limited in connection with certain financial statements. Investors who purchased shares of MINISO Group Holding Limited (NYSE: MNSO), 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 focuses on whether a series of statements by MINISO Group Holding Limited regarding its business, its prospects and
Fireless Aromatherapy Market 2022 Analysis of Rising Business Opportunities with …
The Fireless Aromatherapy Market research provides data and statistics on the current condition of the industry, directing investors interested in this market in the right direction. Because the many all-inclusive divisions mentioned in the market research report can provide significant benefits to businesses, every market segment that can be included here is carefully examined. Many of the most pressing business concerns and challenges are addressed in this market research analysis.
Global Mini Beauty Blenders Market Trends and Forecast Report 2022 | By Players …
QY Research released a latest market research report on the global and United States Mini Beauty Blenders market, which is segmented by region (country), players, by Type and by Application. Players, stakeholders, and other participants in the global Mini Beauty Blenders market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by region (country), by Type
Cleansing Cotton Pad Market Size by Top Companies, Trends by Types and Applicati …
"Market Summary A newly published report titled “(Cleansing Cotton Pad Market)” by QY Research throws light on the industry dynamics and current and future trends that play a key role in determining the business expansion. The report also highlights the key driving factors and restraints that are impacting the growth. For a comprehensive understanding, the professionals have reviewed the regulatory scenario, market entry strategies, best industry practices, pricing strategy, technology landscape,
Blind Boxes Market Size, Landscape, Industry Analysis, Business Outlook, Current …
New Jersey, United States,- Verified Market Research has recently published a research report titled, “Blind Boxes Market Size, and Forecast 2021-2028, Breakdown Data by Manufacturers, Key Regions, Types and Application”. Primary and secondary research methodologies have been used to formulate this report. The analysis has been derived using historic and forecast. The Blind Boxes market is expected to thrive in terms of volume and value during the forecast years. This