Levi & Korsinsky, LLP announces that a YSG class action lawsuit has been filed on behalf of investors who purchased Yatsen Holding Limited (YSG) This lawsuit is on behalf of a class consisting of all persons and entities who purchased Yatsen Holding Limited American Depository Shares (“ADS”) between November 19, 2020 and March 10, 2022, or acquired Yatsen ADS pursuant or traceable to documents issued in connection with Yatsen’s November 2020 initial public stock offering. For more on the YSG Lawsuit please contact us today.
According to the Yatsen lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: The filed complaint alleges that defendants made false statements and/or concealed 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 Yatsen 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.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
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New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171