ClaimsFiler, a FREE shareholder information service, reminds investors that they have until October 17, 2022 to file lead plaintiff applications in a securities class action lawsuit against MINISO Group Holding Limited, 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.
MINISO investors should visit us at https://claimsfiler.com/cases/nyse-mnso/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
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.
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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