NEW YORK, Dec. 15, 2014 /PRNewswire/ -- Milberg LLP
announces that it is investigating Jumei International Holdings Ltd
("Jumei" or the "Company"), and that a class action lawsuit has
been filed in the United States District Court for the Eastern
District of New York on behalf of
purchasers of Jumei securities (NYSE: JMEI), during the period
May 16, 2014 to November 19, 2014, ("the Class
Period").
The complaint alleges that throughout the Class Period, Jumei
and certain of its officers violated the federal securities laws by
disseminating false and misleading statements to the investing
public.
Specifically, defendants made false and misleading statements
and/or failed to disclose that: (1) Jumei was changing its revenue
model by transiting away from marketplace services to merchandise
sales; (2) this transition posed a significant risk to the Jumei's
previously successful financial performance; and (3) Jumei was not
expanding its marketplace services as claimed. As a result, the
lawsuit claims that when these adverse facts became known, the
value of Jumei's securities dropped, damaging investors.
Shares of Jumei ADSs declined from as high as $39.45 on August 18,
2014 to as low as $12.87 on
December 11, 2014.
If you purchased Jumei shares between May
16, 2014 and November 19,
2014, you may, no later than February
10, 2015, request that the Court appoint you lead
plaintiff. A lead plaintiff is a class member that directs
the litigation. Your share in any recovery will not be
affected by serving as a lead plaintiff. You do not need to
be a lead plaintiff to recover. You may retain Milberg LLP,
or other attorneys, for this action, but do not need to retain
counsel to recover. If this action is certified as a class
action, class members will be automatically represented by
Court-appointed counsel. The complaint in this action was not
filed by Milberg.
If you would like to learn more about this potential matter,
please contact the following attorney:
Andrei Rado, Esq.
Milberg LLP
One Pennsylvania Plaza, 49th Fl.
New York, NY 10119-0165
Phone number: (800) 320-5081
Email: contactus@milberg.com
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SOURCE Milberg LLP