NEW YORK, NY / ACCESSWIRE / September 21, 2022 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against MINISO Group Holding Limited ("MINISO" or "the Company") (NYSE:MNSO) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired MINISO securities pursuant and/or traceable to the registration statement and related prospectus (collectively, the "Registration Statement") issued in connection with MINISO's October 2020 initial public offering (the "IPO"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/mnso .
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The Complaint alleges that the Registration Statement featured false and/or misleading statements and/or failed to disclose that: (1) defendants and other undisclosed related parties owned and controlled a much larger amount of MINISO stores than previously stated; (2) as a result, MINISO concealed its true costs; (3) the Company did not represent its true business model; (4) defendants, including the Company and its Chairman, engaged in planned unusual and unclear transactions; (5) as a result of at least one of these transactions, the Company is at risk of breaching contracts with Chinese authorities; (6) the Company would imminently and drastically drop its franchise fees; and (7) as a result, Defendants' statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/mnso or contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in MINISO you have until October 17, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC