SHAREHOLDER ALERT: Investigation on Behalf of Investors of Jumei International Holding Limited Announced by Law Offices of Ho...
January 06 2015 - 10:32AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims on behalf of investors of Jumei
International Holding Limited (“Jumei” or the “Company”)
(NYSE:JMEI) concerning possible violations of federal securities
laws. The investigation is focused on the Company’s business,
operations and prospects. 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 its 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.” On this news, shares of Jumei declined $2.91
per share, or 13%, to close on November 20, 2014, at $19.32 per
share, on unusually heavy volume.
If you purchased Jumei securities between May 16, 2014 and
November 20, 2014, if you have information or would like to learn
more about these claims, or if you have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at www.howardsmithlaw.com.
Law Offices of Howard G. SmithHoward G. Smith, Esquire(215)
638-4847(888)
638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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