Block & Leviton LLP Announces that a Lawsuit Has Been Filed Against Phoenix Tree Holdings Ltd. for Securities Violations; Investors Who Lost Money Should Contact the Firm
Phoenix Tree Holdings Limited (DNK)
Company Research
Source: GlobeNewswire
BOSTON, April 27, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that a securities class action has been filed against Phoenix Tree Holdings Ltd. (NYSE: DNK) and certain of its officers and directors. Investors who have lost money are encouraged to contact the firm for a free case evaluation. Phoenix Tree, a holding company that leases and manages apartments in China, held its initial public offering (“IPO”) for its American Depositary Shares (“ADS”) on January 22, 2020, in which it sold 9.6 million ADS at $13.50 each. The lawsuit, filed in the U.S. District Court for the Southern District of New York, alleges that the IPO materials misrepresented and/or failed to disclose the nature and level of renter complaints that Phoenix Tree had received before and as of the IPO, plus the Company’s exposure to significant adverse developments resulting from the onset of COVID-19 in China. The ADS are presently trading aro
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