Phoenix Tree (DNK) Alert: Johnson Fistel Investigates China Based Phoenix Tree Holdings; Investors Suffering Losses Encouraged to Contact Firm
Phoenix Tree Holdings Limited (DNK)
Company Research
Source: PR Newswire
SAN DIEGO, April 16, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by Phoenix Tree Holdings Limited ("Phoenix Tree " or "the Company") (NYSE: DNK). Phoenix Tree is a Cayman Islands holding company that leases and manages apartments in China, which it rents to tenants under the brands Danke Apartment and Dream Apartment. On or about January 22, 2020, Phoenix Tree sold 9.6 million shares of stock in its initial public stock offering (the "IPO"), at $13.50 a share raising $130 million in new capital. However, since the IPO, Phoenix Tree stock has plummeted, on April 16, 2020, the stock closed at $7.35.Specifically, Johnson Fistel's investigation seeks to determine whether the Company's filings with the U.S. Securities and Exchange Commission in connection with its January 2020 IPO and subsequent investor communications contained untrue statements of material facts or omitted to state other facts
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