Lead Plaintiff Deadline: June 26, 2020
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According to the filed complaint, the documents Phoenix Tree issued in connection with its initial public offering (“IPO”) omitted or otherwise misrepresented the nature and level of renter complaints the Company had received before and as of the IPO, as well as the demand in the Chinese residential rental market and the Company’s exposure to significant adverse developments resulting from the onset of the coronavirus in China – particularly in Wuhan – at the time of the IPO. After the IPO, reports emerged indicating that Phoenix was experiencing ongoing problems due to the coronavirus, which was causing financial and other harm to tenants.
In order to be included in the lawsuit, you must have incurred a loss on shares of Phoenix Tree purchased or acquired during the class period listed above.
If you suffered a loss in Phoenix Tree during the relevant time frame, you have until June 26, 2020 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.