SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders With Losses on Their Investment in Jumei International Holding Lim...
January 02 2015 - 5:00AM
Pomerantz LLP announces that a class action lawsuit has been filed
against Jumei International Holding 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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