NEW ORLEANS, Oct. 04, 2022 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors that they have until November 22, 2022 Lead plaintiff’s motions in a securities class action lawsuit against Yatsen Holding Limited YSGif they acquired the Company’s American Depository Shares (“ADS”) between November 19, 2020 and March 10, 2022 inclusive (the “Collection Period”) and/or pursuant to the Company’s November 2020 IPO (the “IPO”) bought ). This lawsuit is pending in the United States District Court for the Southern District of New York.
What you can do
If you have purchased ADS from Yatsen as described above and would like to discuss your legal rights and how this case may affect you and your right to compensation for your economic loss, you may contact KSF Managing Partner Lewis Kahn at no obligation or cost to you Contact toll free at 1-877-515-1850 or email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-ysg/ to learn more. If you wish to be a lead plaintiff in this class action lawsuit, you must file a petition with the court November 22, 2022.
About the lawsuit
Yatsen and certain of its officers are alleged to have failed to disclose material information during the Class Period and/or in the registration statement and prospectus issued in connection with the IPO, in violation of federal securities laws.
On March 10, 2022, the Company reported its financial results for the fourth quarter and full year for the period ended December 31, 2021 and reported decreases in both total net sales for the fourth quarter of 22.1% and gross sales for the fourth quarter dated 17.2% due to “weak consumer demand and intense competition in the color cosmetics segment”, including issues with the Perfect Diary brand as well as the Little Ondine brand.
As a result of this news, Yatsen’s ADS stock plummeted, falling 39.5% to close at just over $0.75 per share on March 10, 2022.
That…
