The Gross Law Firm Announces Class Actions on Behalf of Shareholders of SPCE, YMM and BLCT
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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of SPCE, YMM and BLCT

Tuesday, July 20, 2021 11:45 AM
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The Gross Law Firm

NEW YORK, NY / ACCESSWIRE / July 20, 2021 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Investors Affected : October 26, 2019 - April 30, 2021

A class action has commenced on behalf of certain shareholders in Virgin Galactic Holdings, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) for accounting purposes, Social Capital Hedosophia Holdings Corp.'s ("SCH") warrants were required to be treated as liabilities rather than equities; (ii) Virgin Galactic had deficient disclosure controls and procedures and internal control over financial reporting; (iii) as a result, the Company improperly accounted for SCH warrants that were outstanding at the time of the business combination; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/virgin-galactic-holdings-inc-loss-submission-form/?id=17810&from=1

Full Truck Alliance Co. Ltd. (NYSE:YMM)

This lawsuit is on behalf of persons who purchased or otherwise acquired Full Truck's securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with Full Truck's June 2021 initial public offering.

A class action has commenced on behalf of certain shareholders in Full Truck Alliance Co Ltd. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Full Truck's apps Yunmanman and Huochebang would face an imminent cybersecurity review by the Chinese government; (2) the Chinese government would require Full Truck to suspend new user registration; (3) FTA needed to conduct a "comprehensive self-examination of any cybersecurity risks"; (4) Full Truck needed to "continue to improve its cybersecurity systems and technology capabilities"; and (5) as a result, Defendants' public statements were materially false and misleading at all relevant times and negligently prepared.

Shareholders may find more information at https://securitiesclasslaw.com/securities/full-truck-alliance-co-ltd-loss-submission-form/?id=17810&from=1

Bluecity Holdings Limited (NASDAQ:BLCT)

This lawsuit is on behalf of all persons and entities, other than Defendants, who purchased or otherwise acquired BlueCity American Depositary Shares pursuant and/or traceable to the Offering Documents issued in connection with the Company's initial public offering conducted on or about July 8, 2020.

A class action has commenced on behalf of certain shareholders in Bluecity Holdings Limited. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Defendants had overstated BlueCity's business and financial prospects; (2) the Company was ill-equipped to absorb the costs of becoming a publicly traded company, including IPO- and growth-related costs; (3) as a result of all the foregoing, Defendants had misrepresented the Company's capability for sustainable growth; and (4) as a result, the Offering Documents were materially false or misleading and/or failed to state information required to be stated therein.

Shareholders may find more information at https://securitiesclasslaw.com/securities/bluecity-holdings-limited-loss-submission-form/?id=17810&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm

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