NEW ORLEANS, LA / ACCESSWIRE / September 29, 2022 / Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 22, 2022 to file lead plaintiff applications in a securities class action lawsuit against Yatsen Holding Limited (NYSE:YSG), if they purchased the Company's American Depository Shares ("ADS") between November 19, 2020 and March 10, 2022, inclusive (the "Class Period") and/or pursuant to the Company's November 2020 initial public offering (the "IPO"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased ADS of Yatsen as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ysg/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by November 22, 2022.
About the Lawsuit
Yatsen and certain of its executives are charged with failing to disclose material information during the Class Period and/or in the Registration Statement and Prospectus issued in conjunction with the initial public offering, violating federal securities laws.
On March 10, 2022, the Company released its fourth quarter and full year financial results for the period ended December 31, 2021, disclosing declines in both total net revenues for the fourth quarter of 22.1% and in gross sales for the fourth quarter of 17.2% due to "soft consumer demand and intense competition in the color cosmetics segment," including issues with its Perfect Diary brand as well as its Little Ondine brand.
On this news, the price of Yatsen's ADS plummeted, falling 39.5% to close at just over $0.75 per share on March 10, 2022.
The case is Maeshiro v Yatsen Holding Limited, et al., No. 22-cv-08165.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients - including public institutional investors, hedge funds, money managers and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE: Kahn Swick & Foti, LLC