NEW ORLEANS, August 19, 2022 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr.remind investors that they have until October 17, 2022 to file lead plaintiff claims in a securities class action lawsuit against MINISO Group Holding Limited (NYSE: MNSO), if they have purchased or acquired the securities of the Company in accordance with and/or traceable to the October 2020 initial public offering (the “IPO”). This action is in progress in United States District Court of the Central District of California.
What you can do
If you have purchased or acquired securities of MINISO as above and wish to discuss your legal rights and how this matter may affect you and your right to recover your economic loss, you may, at no obligation or cost to you , contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or by email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-mnso/ to learn more. If you wish to act as lead plaintiff in this class action, you must submit a motion to the court in October 17, 2022.
About the trial
MINISO and certain of its executives are accused of failing to disclose material information in its IPO registration statement, in violation of federal securities laws.
On July 26, 2022market researcher Blue Orca Capital reported myriad issues involving the Chinabased on the company, including that “there is overwhelming evidence that MINISO is misleading the market about its core business” and that “documents filed by the Chinese companies also indicate, in our view, that the President misappropriated hundreds of millions of public enterprise through opaque Caribbean jurisdictions as an intermediary in a crooked headquarters agreement”, among others.
On this news, the price of MINISO’s American Depositary Shares fell $1.08i.e. 14.98%, to close at $6.13on an unusually high volume of transactions.
The deal is Ashraf v. MINISO Group Holding Limited, No. 22-cv-05815.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s leading securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, fund managers and retail investors – in seeking recoveries for investment losses resulting from corporate fraud or malfeasance by listed companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you can visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis KahnManaging partner
1100 Poydras Street, Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC