NEW ORLEANS, September 30, 2022 /PRNewswire/ — 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 claims 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, 2022inclusive (the “Class Period”) and/or pursuant to the November 2020 initial public offering (the “IPO”). This action is in progress in United States District Court for the Southern District of New York.
What you can do
If you have purchased ADS from Yatsen as above and would like to discuss your legal rights and how this matter may affect you and your right to recover your economic loss, you may, at no obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free. -toll free at 1-877-515-1850 or by email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ysg/ to learn more. If you wish to act as lead plaintiff in this class action, you must submit a motion to the court in November 22, 2022.
About the trial
Yatsen and certain of its officers are accused of 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, in violation of federal securities laws. securities.
On March 10, 2022the Company released its fourth quarter and full year financial results for the period ended December 31, 2021revealing a decline in both total net revenue for the fourth quarter of 22.1% and gross sales for the fourth quarter of 17.2% due to “weak consumer demand and intense competition in the color cosmetics”, including issues with its Perfect Diary brand as well as its Little Ondine brand.
On this news, Yatsen’s ADS price fell 39.5% to close just over $0.75 per share on March 10, 2022.
The deal 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 leading securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, fund managers and retail investors – in seeking recoveries for investment losses resulting from corporate fraud or malfeasance by listed companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you can visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis KahnManaging Partner
1100 Poydras Street, Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC