Deadline in Lawsuit for Investors in Jumei International Holding Ltd (ADR) (JMEI) Shares Announced by Shareholders Foundation...
December 15 2014 - 8:45AM
The Shareholders Foundation, Inc. announces that a lawsuit was
filed for certain investors in Jumei International Holding Ltd
(ADR) (JMEI) over alleged Federal Securities Laws Violations by
Jumei International Holding.
If you purchased a significant amount of shares of Jumei
International Holding Ltd (ADR) (NYSE:JMEI) between May 16, 2014,
the date of Jumei International Holding's initial public offering
("IPO") and November 19, 2014, you have certain options and for
certain investors are short and strict deadlines running. Deadline:
February 10, 2015. NYSE:JMEI investors should contact the
Shareholders Foundation at mail@shareholdersfoundation.com or call
+1(858) 779 - 1554.
The plaintiff claims that Jumei International Holding Ltd,
certain of its officers and directors and the underwriters of its
IPO violated the Securities Act of 1933.
In January 2014, Jumei International Holding Ltd filed its
Registration Statements with the SEC which, following several
amendments in response to comments by the SEC, would later be used
for the IPO.
The plaintiff alleges that under the rules and regulations
governing the preparation of the Registration Statement, Jumei
International Holding Ltd was required to disclose at the time of
the IPO that it had been relying upon dubious suppliers for its
third-party "Marketplace" offerings, which it needed to cease doing
business with, and that ceasing to do business with those suppliers
would raise its product costs and would, at least temporarily,
diminish its sales by decreasing the variety of products Jumei
International Holding Ltd had to offer, and that the Registration
Statement contained no such disclosures.
The plaintiff claims that following Jumei International
Holding's issuance of a July 2014 "Business Update" outlining a
series of steps it would need to take to ensure the legitimacy of
the product being sold on its website going forward and its
reporting of its actual third quarter 2014 financial results, which
were negatively impacted by the business model changes described in
the Business Update, and other related disclosures, the price of
Jumei International Holding ADSs declined.
Indeed, shares of Jumei International Holding (NYSE:JMEI)
declined from as high as $39.45 on August 18, 2014 to as low as
$12.87 on December 11, 2014.
Those who purchased shares of Jumei International Holding Ltd
(NYSE:JMEI) have certain options and should contact the
Shareholders Foundation, Inc. by e-mail at
mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio
legal monitoring and a settlement claim filing service, which does
research related to shareholder issues and informs investors of
securities class actions, settlements, judgments, and other legal
related news to the stock/financial market. The Shareholders
Foundation, Inc. is not a law firm. The information is provided as
a public service. It is not intended as legal advice and should not
be relied upon.
CONTACT: Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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