NEW YORK, NY / ACCESSWIRE / September 28, 2022 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Yatsen Holding Limited ("Yatsen" or the "Company") (NYSE:YSG) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired Yatsen American Depositary Receipts ("ADRs") (i) pursuant and/or traceable to the Company's initial public offering conducted on or about November 19, 2020 (the "IPO"); and/or (ii) between November 19, 2020 and March 10, 2022, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/ysg.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The Complaint alleges that throughout the Class Period, Defendants misled investors into believing that Yatsen's two largest and historically most significant brands, 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 continued to decline throughout 2021.
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/ysg 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 Yatsen, you have until November 22, 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 and Grossman, LLC