Yatsen Class Action Complaint Filed: Johnson Fistel Encourages Shareholders to Contact the Firm
September 24, 2022
SAN DIEGO, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Yatsen Holding Limited YSG ("Yatsen" or the "Company"). The class action is on behalf of shareholders who purchased or otherwise, acquired Yatsen American Depository Shares ("ADS") between November 19, 2020 and March 10, 2022 (the "Class Period"), including in, pursuant to, and/or traceable to the Company's IPO. Investors are hereby notified that they have until November 22, 2022 to move the Court to serve as lead plaintiff in this action.
What actions may I take at this time? If you suffered a loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (firstname.lastname@example.org) by email or phone at 619-814-4471. If emailing, please include a phone number.
To join this action, you can click or copy and paste the link below in a browser:
There is no cost or obligation to you.
According to the complaint filed, during the Class Period, including in the registration statement and IPO prospectus, Yatsen, and the other named defendants misled investors into believing that Perfect Diary and Little Ondine were thriving, thereby driving Yatsen's "healthy" top-line growth at the time of its IPO and quarter after quarter thereafter. In truth, however, cosmetic and skincare sales of Perfect Diary and Little Ondine products were declining in the period leading up to (and including at the time of) the IPO and throughout 2021. Moreover, as the truth about Yatsen's business reached the market, the value of the Company's shares declined dramatically, causing Yatsen investors to suffer significant damages.
A lead plaintiff will act on behalf of all other class members in directing the Yatsen class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the Yatsen class action lawsuit is not dependent upon serving as lead plaintiff.
For more information regarding the lead plaintiff process please refer to https://www.johnsonfistel.com/lead-plaintiff-deadlines.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471