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Scott+Scott Attorneys at Law LLP Files Securities Class Action Against Yatsen Holding Limited (NYSE: YSG)

NEW YORK–(BUSINESS WIRE)–Scott+Scott Lawyers LLP (“Scott+Scott”), a global firm specializing in shareholder and consumer rights litigation, has filed a securities class action lawsuit against Yatsen Holding Limited (NYSE: YSG) (“Yatsen” or the “Company”) , its U.S. representatives, its stockholders, certain directors and officers of Yatsen, and the underwriters of Yatsen’s November 2020 initial public offering (“IPO”), alleging violations of §§11, 12 and 15 of the Securities Act of 1933, as well as §§10, 20(A) and 20(a) of the Exchange Act of 1934, including United States Securities and Exchange Commission (“SEC”) Rule 10b-5 promulgated in virtue of it. If you purchased Yatsen American Depository Shares (“ADS”) between November 19, 2020 and March 10, 2022 (the “Class Period”), including during, pursuant to and/or in connection with the IPO of the Company on or about November 19, 2020, we encourage you to contact Scott+Scott attorney Jonathan Zimmerman at (888) 398-9312 for further information.

Yatsen operates in the Chinese cosmetics market, generating almost all of its net revenue from the sale of branded beauty products. perfect diary and Little Ondine brands.

According to the lawsuit filed in the Southern District of New York, during the class period, including in the registration statement and prospectus used to effect the company’s IPO, Yatsen and the other named defendants misleads investors into believing that perfect diary and Little Ondine were booming, driving Yatsen’s “healthy” revenue growth at the time of its IPO and quarter after quarter thereafter. In truth, however, sales of cosmetics and skincare from perfect diary and Little Ondine products were down in the lead up to (and including the time of) the IPO and throughout 2021. Additionally, as the truth about Yatsen’s business reached the market, the value of The company’s shares fell dramatically, causing Yatsen’s investors to take a beating. At the start of the action, shares of Yatsen were trading as low as $0.39 per ADS, representing a decline of more than 96% from the IPO’s offering price of $10.50. in stock exchange.

Lead Applicant Deadline

The case was filed today in court for the Southern District of New York (Case No. 1:22-cv-08165). The lead plaintiff deadline in this action is November 22, 2022. Any member of the proposed class may seek to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed class.

what you can do

If you bought Yatsen ADS during the Class Periodor if you have any questions regarding this notice or your legal rights, we encourage you to contact attorney Jonathan Zimmerman at (888) 398-9312 or [email protected]

About Scott+Scott Lawyers LLP

Scott+Scott has extensive experience in pursuing major securities, antitrust and consumer rights actions across the United States. The firm represents pension funds, foundations, individuals and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, Virginia and Ohio.

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