INVESTIGATION ALERT: Scott+Scott Attorneys at Law LLP Announces Investigation into MINISO Group Holding Limited (MNSO)
News provided byScott+Scott Attorneys at Law LLP
Jul 26, 2022, 4:41 PM ET
NEW YORK, July 26, 2022 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, is investigating whether MINISO Group Holding Limited (“MINISO” or the “Company”) (NYSE: MNSO) or certain of its officers and directors violated federal securities laws. If you purchased MINISO securities pursuant and/or traceable to its initial public offering (“IPO”) in October 2020, you are encouraged to contact Scott+Scott attorney Jonathan Zimmerman at (888) 398-9312 for more information.
MINISO is a global retailer, headquartered in China, that offers a variety of design-led lifestyle products.
On or about October 15, 2020, MINISO commenced an IPO issuing 30,400,000 American Depository Shares (ADS) to the investing public at $20.00 per share (the “IPO Price”).
On or about July 26, 2022, Blue Orca Capital issued a short report questioning the veracity of certain statements made by the Company, notably with respect to MINISO’s supposed asset-light core business model and financials.
On this news, the price of MINISO’s ADS declined intraday to currently trade around $6.14 per ADS, or $13.86 below the IPO Price.
What You Can Do
If you purchased MINISO ADS in the IPO, or otherwise acquired MINISO ADS, and have suffered a loss, realized or unrealized, and you wish to discuss this investigation, please contact attorney Jonathan Zimmerman at (888) 398-9312 or at firstname.lastname@example.org.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.