Shareholder Alert: Robbins LLP Announces Phoenix Tree Holdings, Ltd. (DNK) Sued for Misleading Shareholders
Phoenix Tree Holdings Limited (DNK)
Company Research
Source: Business Wire
SAN DIEGO & DONGCHENG DISTRICT, Beijing--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP announces that a purchaser of Phoenix Tree Holdings, Ltd. (NASDAQ: DNK) filed a class action complaint against the Company for alleged violations of the Securities Act of 1933 pursuant to the company's January 2020 initial public offering ("IPO"). Phoenix is a Cayman Islands holding company that leases and manages apartments in China.If you suffered a loss as a result of Phoenix's misconduct, click here.Phoenix Tree Holdings, Ltd. (DNK) Accused of Misleading Shareholders According to the complaint, Phoenix held its IPO on January 22, 2020, offering approximately 9.6 million ADSs at $13.50 per share for gross proceeds of approximately $128.4 million. In its offering materials, Phoenix touted the Company's focus on residents and customer service as well as its use of data-driven technology to effectively compete in the market. The offering materials also recognized the adverse effects c
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