Yatsen Holding Limited Class Action Lawsuit (YSG Lawsuit)
What Is The Yatsen Holding Limited Class Action Lawsuit About?
The Yatsen Holding Limited Class Action Lawsuit (NYSE:YSG) (Yatsen Holding Limited Class Action Lawsuit) was filed when after the market closed on on March 10, 2022, Yatsen released its fourth quarter and full year financial results for the period ended December 31, 2021, revealing that its disappointing financial results were not solely due to issues with Little Ondine but, rather, Perfect Diary as well.
Is There An Yatsen Holding Limited Class Action Lawsuit?
Then, on March 10, 2022, Yatsen released its fourth quarter and full year financial results for the period ended December 31, 2021, revealing that its disappointing financial results were not solely due to issues with Little Ondine but, rather, Perfect Diary as well.
In commenting on the “challenging quarter,” Defendant Huang blamed “soft consumer demand and intense competition in the color cosmetics segment,” for why total net revenues for the fourth quarter decreased 22.1% and gross sales for the fourth quarter decreased 17.2%. During the Company’s earnings call with analysts that same day, Defendant Huang conceded that Yatsen’s disappointing results were the result of a deceleration in sales of its leading brands, stating in relevant part:
On this news, Yatsen’s ADS cratered, falling 39.5% to close on March 10, 2022 at just over $0.75 per share.
Is There A Deadline For The Yatsen Holding Limited Lawsuit?
How Much Did Shareholders Lose In Yatsen Holding Limited?
Shareholders who held YSG securities saw stock cratered, falling 39.5% to close on March 10, 2022 at just over $0.75 per share
What Is The Yatsen Holding Limited Lawsuit Complaint?
Levi & Korsinsky, LLP announces that a YSG class action lawsuit (Yatsen Holding Limited Class Action Lawsuit) has been filed on behalf of investors who purchased Yatsen Holding Limited Class Action Lawsuit (YSG) securities between November 19, 2020 – March 10, 2022, inclusive. For more on the YSG Lawsuit please contact us today.
According to the Yatsen Holding Limited lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
The registration statement and prospectus used to effectuate the Company’s initial public offering (“IPO”), Yatsen and the other named defendants misled investors into believing that Yatsen’s most significant brands, Perfect Diary and Little Ondine, were thriving, thereby driving Yatsen’s “healthy” top-line growth at the time of its IPO and quarter after quarter thereafter.
In truth, however, cosmetic and skincare sales of Perfect Diary and Little Ondine products were declining in the period leading up to (and including at the time of) the IPO and throughout 2021.
Moreover, as the truth about Yatsen’s business reached the market, the value of the Company’s shares declined dramatically, causing Yatsen investors to suffer significant damages.
If you suffered a loss in YSG, you have until November 22, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Why Levi & Korsinsky, LLP Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
What Is The Lead Plaintiff Process?
THE LEAD PLAINTIFF PROCESS: According to the Private Securities Reform Act of 1995, any investor who bought or acquired YSG securities in the Class Period may apply for appointment as a lead plaintiff. The lead plaintiff is usually the movant who has the most financial interest in the relief sought. However, he or she must also be typical or adequate to the putative classes. The YSG class-action lawsuit is directed by the lead plaintiff. To litigate the Yatsen Holding Limited Class Action Lawsuit, the lead plaintiff may choose any law firm it wishes. The ability of an investor to share in any future recovery is not tied to being the lead plaintiff in the YSG Class Action Lawsuit.
What Does YSG Do?
Yatsen Holding Limited, together with its subsidiaries, engages in the development and sale of beauty products under the Perfect Diary, Little Ondine, Pink Bear, Abby’s Choice, GalÃnic, DR.WU, Eve Lom, and EANTiM brands in the People’s Republic of China.
It offers color cosmetics, eye makeup, lip makeup, face makeup, skincare, and nail products; and makeup tools and accessories, including brush sets, cotton cosmetic pads, mirrors, and makeup sponges.
The company also provides kits; and other products, such as perfumes and cross-over products comprising beauty devices and colored contact lenses. It sells its products through stores and online channel.
The company was formerly known as Mangrove Bay Ecommerce Holding (Cayman) and changed its name to Yatsen Holding Limited in January 2019. Yatsen Holding Limited was founded in 2016 and is headquartered in Guangzhou, China.
YSG Class Action Lawsuit,
YSG Class Action,