Kessler Topaz Meltzer & Verify, LLP Reminds Missfresh Restricted Shareholders of Securities Fraud Class Motion Lawsuit

Revealed: Jul. 17, 2022 at 3:58 PM CDT|Up to date: 32 minutes in the past

RADNOR, Pa., July 17, 2022 /PRNewswire/ — The regulation agency of Kessler Topaz Meltzer & Verify, LLP (www.ktmc.com) informs traders {that a} securities class motion lawsuit has been filed in opposition to Missfresh Restricted (“Missfresh”) (NASDAQ: MF). The motion prices Missfresh with violations of the federal securities legal guidelines, together with omissions and fraudulent misrepresentations regarding the corporate’s enterprise, operations, and prospects. Because of Missfresh’s materially deceptive statements and omissions to the general public, Missfresh traders have suffered vital losses.

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CLICK HERE TO SUBMIT YOUR MISSFRESH LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE IN YOUR BROWSER: https://www.ktmc.com/new-cases/missfresh-limited?utm_source=PR&utm_medium=hyperlink&utm_campaign=missfreshx&mktm=r

TO VIEW OUR VIDEO, PLEASE CLICK HERE

LEAD PLAINTIFF DEADLINE: SEPTEMBER 12, 2022

CLASS PERIOD: PURSUANT AND/OR TRACEABLE TO MISSFRESH’S JUNE 2021 IPO THROUGH JULY 12, 2022

CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:
James Maro, Esq. (484) 270-1453 or Toll Free (844) 887-9500 or E mail at [email protected]

Kessler Topaz is among the world’s foremost advocates in defending the general public in opposition to company fraud and different wrongdoing. Our securities fraud litigators are usually acknowledged as leaders within the discipline individually and our agency is each feared and revered among the many protection bar and the insurance coverage bar. We’re proud to have recovered billions of {dollars} for our purchasers and the lessons of shareholders we signify.

MISSFRESH’S ALLEGED MISCONDUCT
In June 2021Missfresh performed its preliminary public providing (IPO), promoting 21 million American Depository Shares (“ADSs”) at $13.00 per ADS.

On April 29, 2022after buying and selling hours, Missfresh filed a Notification of Late Submitting on a Type 12b-25, which introduced that Missfresh “will be unable to file its Annual Report on Type 20-F for the fiscal 12 months ended December 31, 2021 … by the prescribed submitting deadline of April 302022.” Missfresh defined that “[t]he impartial Audit Committee of [Missfresh]’s board of administrators, with the help of skilled advisors, is within the strategy of conducting an inside evaluation of sure issues, together with these regarding transactions between [Missfresh] and sure third-party enterprises.” Following this information, Missfresh ADSs fell 13% to shut at $0.448 per ADS on Could 2, 2021the following buying and selling day.

Then, on Could 24, 2022after buying and selling hours, Missfresh issued a press launch entitled “Missfresh Publicizes Receipt of Nasdaq Notification Relating to Late Submitting of Type 20-F” asserting “that it acquired a notification letter dated Could 19, 2022 . . . from the Itemizing {Qualifications} Division of The Nasdaq Inventory Market Inc. (“Nasdaq”), indicating that [Missfresh] isn’t in compliance with the necessities for continued itemizing.” Following this information, Missfresh ADSs fell 9% over the following two buying and selling days to shut at $0.167 per ADS on Could 26, 2021.

Lastly, on July 1, 2022, Missfresh issued a press launch entitled “Missfresh Publicizes the Substantial Completion of the Audit Committee-Led Unbiased Inner Overview.” Within the press launch, Missfresh disclosed that “sure income related to these reporting intervals in 2021 could have been inaccurately recorded in [Missfresh]’s monetary statements.” As of the date the criticism was filed, Missfresh ADSs closed at $0.389 per ADS, effectively under Missfresh’s IPO worth of $13.00 per ADS.

WHAT CAN I DO?
Missfresh traders could, no later than September 12, 2022 search to be appointed as a lead plaintiff consultant of the category by means of Kessler Topaz Meltzer & Verify, LLP or different counsel, or could select to do nothing and stay an absent class member. Kessler Topaz Meltzer & Verify, LLP encourages Missfresh traders who’ve suffered vital losses to contact the agency straight to amass extra data.

CLICK HERE TO SIGN UP FOR THE CASE

WHO CAN BE A LEAD PLAINTIFF?
A lead plaintiff is a consultant social gathering who acts on behalf of all class members in directing the litigation. The lead plaintiff is normally the investor or small group of traders who’ve the most important monetary curiosity and who’re additionally sufficient and typical of the proposed class of traders. The lead plaintiff selects counsel to signify the lead plaintiff and the category and these attorneys, if accredited by the court docket, are lead or class counsel. Your capability to share in any restoration isn’t affected by the choice of whether or not or to not function a lead plaintiff.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Verify, LLP prosecutes class actions in state and federal courts all through the nation and around the globe. The agency has developed a world fame for excellence and has recovered billions of {dollars} for victims of fraud and different company misconduct. All of our work is pushed by a typical aim: to guard traders, shoppers, staff and others from fraud, abuse, misconduct and Negligence by companies and fiduciaries. The criticism on this motion was not filed by Kessler Topaz Meltzer & Verify, LLP. For extra details about Kessler Topaz Meltzer & Verify, LLP please go to www.ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Verify, LLP
James Maro, Jr., Esq.
280 King of Prussia Street
Radnor, PA 19087
(484) 270-1453
[email protected]

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