NEW YORK, NY / ACCESSWIRE / September 27, 2022 / Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Yatsen Holding Limited ("Yatsen" or the "Company") (NYSE:YSG) and reminds investors of the November 22, 2022 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $100,000 investing in Yatsen stock or options between November 19, 2020 and March 10, 2022 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/YSG.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
Yatsen operates in the Chinese cosmetics market, generating substantially all of its net revenue from the sale of beauty products under the Perfect Diary and Little Ondine brands.
According to the complaint filed in the Southern District of New York, during the Class Period, including in the registration statement and prospectus used to effectuate the Company's IPO, 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. By the commencement of the action, Yatsen's shares traded as low as $0.39 per ADS, representing a decline of over 96% from the $10.50 IPO offering price.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Yatsen's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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SOURCE: Faruqi & Faruqi, LLP