NEW YORK, Dec. 18, 2014 /PRNewswire/ -- Pomerantz LLP
announces that a class action lawsuit has been filed against Jumei
International Holdings Limited ("Jumei" or the "Company")(NYSE:
JMEI). The class action, filed in United States District
Court, Southern District of New
York, and docketed under 14-cv-9993 is on behalf of a class
consisting of all persons or entities who purchased American
Depository Shares ("ADSs") of Jumei pursuant and/or traceable to
the Registration Statement issued in connection with Jumei's
May 16, 2014 initial public offering
(the "IPO"). This class action seeks to recover damages
against the Company, certain officers, and the underwriters, for
potential violations of the federal securities laws.
If you are a shareholder who purchased Jumei securities pursuant
and/or traceable to the IPO, you have until February 10, 2015 to ask the Court to appoint you
as Lead Plaintiff for the class. A copy of the Complaint can
be obtained at www.pomerantzlaw.com. To discuss this action,
contact Robert S. Willoughby at
rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll
free, x237. Those who inquire by e-mail are encouraged to include
their 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 Company provides various beauty products, including cosmetics,
skin care and body care products, cosmetic applicators, and
fragrance products, as well as beauty products for men, and baby
and children. It also offers apparel and other lifestyle products
comprising women's wear, lingerie, footwear, handbags and luggage,
menswear, sportswear and sporting goods, accessories, home goods
and other lifestyle products, luxury goods, and baby, children, and
maternity products, as well as snacks and health
supplements.
In January 2014, Jumei filed its
Registration Statements with the Securities and Exchange Commission
("SEC") which, following several amendments in response to comments
by the SEC, would later be used for the IPO.
The Complaint alleges that under the rules and regulations
governing the preparation of the Registration Statement, Jumei 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 had to
offer. According to the Complaint, the Registration Statement
contained no such disclosures.
The Complaint further alleges that following Jumei's issuance of
a July 2014 "Business Update"
outlining a series of steps it would need to take to ensure the
legitimacy of the products being sold on its website going forward
and its reporting of its actual third quarter 2014 financial
results (for the period ended September 30,
2014), which were negatively impacted by the business model
changes described in the Business Update, and other related
disclosures, the price of Jumei ADSs fell.
On December 11, 2014, shares of
Jumei declined from as high as $39.45
on August 18, 2014 to as low as
$12.87.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San
Diego, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz Firm pioneered the field of securities class actions.
Today, more than 70 years later, the Pomerantz Firm continues in
the tradition he established, fighting for the rights of the
victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of class members. See
www.pomerantzlaw.com.
CONTACT:
Robert S.
Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP