NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 17, 2022 to file lead plaintiff applications in a securities class action lawsuit against MINISO Group Holding Limited (NYSE: MNSO), if they purchased or acquired the Company’s securities pursuant and/or traceable to the Company’s October 2020 initial public offering (the “IPO”). This action is pending in the United States District Court for the Central District of California.
What You May Do
If you purchased or acquired securities of MINISO as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-mnso/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by October 17, 2022.
About the Lawsuit
MINISO and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement, violating federal securities laws.
On July 26, 2022, market researcher Blue Orca Capital reported on a myriad of issues involving the China-based company, including that “there is overwhelming evidence that MINISO misleads the market about its core business” and that “Chinese corporate filings also indicate, in our view, that the chairman siphoned hundreds of millions from the public company through opaque Caribbean jurisdictions as the middleman in a crooked headquarters deal,” among other things.
On this news, the price of MINISO’s American Depositary Shares fell $1.08, or 14.98%, to close at $6.13, on unusually heavy trading volume.
The case 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 premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
