NEW ORLEANS, October 28, 2022 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF Associates, former Attorney General of Louisiana, Charles C. Foti, Jr.remind investors that they have up November 22, 2022 Lead plaintiff’s motions in a securities class action lawsuit against Yatsen Holding Limited YSGif they have bought the Company’s American Depository Shares (“ADS”) between November 19, 2020 and March 10, 2022inclusive (the “Collection Period”) and/or in accordance with that of the Company 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 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, 2022the company released its financial results for the fourth quarter and full year for the period just ended December 31, 2021which disclosed a 22.1% decline in both total fourth-quarter net sales and 17.2% in gross sales for the fourth quarter due to “weak consumer demand and intense competition in the color cosmetics segment,” including issues with its brand Perfect Diary as and its Little Ondine brand.
On the news, Yatsen’s ADS crashed, falling 39.5% to a close just above $0.75 per share March 10, 2022.
The case…
