INVESTOR ALERT: Investigation of Jumei International Holding Limited Announced by Glancy Binkow & Goldberg LLP
December 10 2014 - 5:16PM
Business Wire
Glancy Binkow & Goldberg LLP announces that it is
investigating potential claims on behalf of investors of Jumei
International Holding Limited (“Jumei” or the “Company”)
(NASDAQ:JMEI) concerning possible violations of federal securities
laws. The investigation is focused on the Company’s business and
financial performance and prospects.
Please contact Lesley Portnoy, at (310) 201-9150, or at
shareholders@glancylaw.com to discuss this matter. If you inquire
by email, please include your mailing address, telephone number and
number of shares purchased.
Jumei operates as an online retailer of beauty products in the
People’s Republic of China. The investigation is related to the
Company’s November 19, 2014, announcement of the Company’s
unaudited financial results for third quarter 2014. According to
the Company, for the quarter ended September 30, 2014, Jumei’s
total gross merchandise value (GMV) grew by a disappointing 31.4%
from the prior year, and gross profit as a percentage of total net
GMV decreased to 22.0%, down from 25.9% in the same period of 2013,
“primarily due to an increase in promotional activities, which led
to relatively higher pricing discounts, as well as the higher
value-added tax paid as a result of a shift from beauty product
marketplace sales to merchandise sales.” In addition, since the
Company’s May 2014 initial public offering, the price of Jumei
stock has steadily fallen, from a high of approximately $37 per
share in mid-August 2014, to a closing price of $15.08 on December
9, 2014.
If you purchased Jumei shares, if you 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 Lesley Portnoy, Esquire,
of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite
2100, Los Angeles, California 90067 at (310) 201-9150, Toll Free at
(888) 773-9224, by e-mail to shareholders@glancylaw.com, or visit
our website at http://www.glancylaw.com. If you inquire by email
please include your mailing address, telephone number and number of
shares purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CALesley
Portnoy310-201-9150888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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