Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Yatsen Holding Limited (“Yatsen” or the “Company”) (NYSE: YSG) American Depository Shares (“ADS”): (a) between November 19, 2020 and March 10, 2022, inclusive (the “Class Period”); and/or (b) pursuant or traceable to the Company’s Registration Statement and related prospectus (collectively, the “Offering Documents”) issued in connection with Yatsen’s November 2020 initial public offers (the “IPO” or “Offering”). Yatsen investors have until November 22, 2022 to file a lead plaintiff motion.
Investors suffering losses on their Yatsen investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
In November 2020, Yatsen conducted its IPO, selling 58.75 million ADSs at $10.50 per ADS.
On August 26, 2021, during a second quarter 2021 analyst call, Yatsen disclosed that its cosmetic line, Perfect Diary, had been deteriorating, requiring the Company to “refocus.”
On this news, Yatsen’s stock fell $1.03, or 17.6%, to close at $4.81 per ADS on August 26, 2021, thereby injuring investors.
Then, on November 17, 2021, Yatsen released its third quarter 2021 financial results, revealing a significant decrease in gross sales from the Company’s cosmetics brands.
On this news, Yatsen’s stock fell $0.59, or 17.9%, to close at $2.70 per ADS on November 17, 2021.
On March 10, 2022, Yatsen released its fourth quarter and full year financial results for 2021, disclosing a decrease of 22.1% in net revenues and 17.2% in gross sales.
On this news, Yatsen’s stock fell $0.49, or 39.5%, to close at $0.75 per ADS on March 10, 2022, thereby injuring investors further.
The complaint filed in this class action alleges that throughout the Class Period and in the Offering Documents, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) cosmetic and skincare sales of Perfect Diary and Little Ondine products were substantially declining in the period leading up to (and including at the time of) the IPO, and continued to decline throughout 2021, and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased Yatsen ADSs, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20220927005429/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
