Shareholder Alert: Robbins Arroyo LLP Announces Ruhnn Holding Limited (RUHN) Sued for Misleading Shareholders
Ruhnn Holding Limited (RUHN)
Company Research
Source: Business Wire
SAN DIEGO & HANGZHOU, China--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP reminds investors that a purchaser of Ruhnn Holding Limited (NASDAQ: RUHN) has filed a class action complaint against the company for alleged violations of the Securities Act of 1933 pursuant to its April 2019 initial public offering ("IPO"). Ruhnn operates key opinion leader (KOL) cultivation and incubation platforms in the People's Republic of China.If you own shares of Ruhnn Holding stock, click here.Ruhnn Holding Limited (RUHN) Accused of Misleading Investors in IPOAccording to the complaint, Ruhnn completed its IPO on April 3, 2019 offering 10 million Ruhnn ADSs at $12.50 per share for net proceeds of $125 million. In its Registration Statement, Ruhnn claimed it was operating 91 online stores and touted the Company's dramatic growth in net revenues derived from its full-service model. However, these representations were materially false and failed to disclose that in actuality the num
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