SAN DIEGO, Dec. 15, 2014 (GLOBE NEWSWIRE) -- 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.
Shareholders Foundation, Inc. Michael Daniels +1 (858) 779-1554 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
