NEW YORK, Oct. 9, 2019 /PRNewswire/ -- Bernstein
Liebhard LLP, a nationally acclaimed investor rights law firm,
announces that a securities class action lawsuit has been filed on
behalf of shareholders of Ruhnn Holding Limited ("Ruhnn" or the
"Company") (NASDAQ: RUHN) from March 31,
2019, through October 7, 2019,
inclusive (the "Class Period"). The lawsuit filed in the United States District Court for the
Eastern District of New York
alleges violations of the Securities Act of 1933.
If you purchased Ruhnn securities, and/or would like to
discuss your legal rights and options please visit Ruhnn
Shareholder Class Action or contact Matthew E. Guarnero toll free at (877)
779-1414 or MGuarnero@bernlieb.com.
If you wish to serve as lead plaintiff, you must move the Court
no later than December 6, 2019. A
lead plaintiff is a representative party acting on behalf of other
class members in directing the litigation. Your ability to share in
any recovery doesn't require that you serve as lead plaintiff. If
you choose to take no action, you may remain an absent class
member.
According to the complaint, the Company's Registration Statement
contained false and/or misleading statements and/or failed to
disclose that: (1) at the time of the IPO, the number of Ruhnn's
online stores had declined by nearly 40%; (2) at the time of the
IPO, the number of Ruhnn's full-service Key Opinion Leaders had
declined by nearly 44%; (3) as a result, the Company's net revenues
derived from its full-service segment had declined by 46% on a
sequential basis; and (3) as a result, defendants' statements about
Ruhnn's business, operations, and prospects were materially false
and misleading and/or lacked a reasonable basis at all relevant
times.
Since the IPO, and as a result of the disclosure of material
adverse facts omitted from Ruhnn's Registration Statement, Ruhnn
ADSs have fallen substantially below their IPO price, damaging
Ruhnn shareholders.
If you purchased Ruhnn securities, and/or would like to
discuss your legal rights and options please visit
https://www.bernlieb.com/cases/ruhnnholdinglimited-ruhnn-shareholder-class-action-lawsuit-stock-fraud-194/apply
or contact Matthew E. Guarnero toll
free at (877) 779-1414 or MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over
$3.5 billion for its clients. In
addition to representing individual investors, the Firm has been
retained by some of the largest public and private pension funds in
the country to monitor their assets and pursue litigation on their
behalf. As a result of its success litigating hundreds of lawsuits
and class actions, the Firm has been named to The National Law
Journal's "Plaintiffs' Hot List" thirteen times and listed in The
Legal 500 for ten consecutive years.
ATTORNEY ADVERTISING. © 2019 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com
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SOURCE Bernstein Liebhard LLP