Yatsen Holding Limited (NYSE: YSG)
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 22, 2022 to file lead plaintiff applications in a securities class action lawsuit against Yatsen Holding Limited (NYSE: YSG), if they purchased the Company’s American Depository Shares (“ADS”) between November 19, 2020 and March 10, 2022, inclusive (the “Class Period”) and/or pursuant to the Company’s November 2020 initial public offering (the “IPO”).
Yatsen and certain of its executives are charged with failing to disclose material information during the Class Period and/or in the Registration Statement and Prospectus issued in conjunction with the initial public offering, violating federal securities laws.
On March 10, 2022, the Company released its fourth quarter and full year financial results for the period ended December 31, 2021, disclosing declines in both total net revenues for the fourth quarter of 22.1% and in gross sales for the fourth quarter of 17.2% due to “soft consumer demand and intense competition in the color cosmetics segment,” including issues with its Perfect Diary brand as well as its Little Ondine brand.
On this news, the price of Yatsen’s ADS plummeted, falling 39.5% to close at just over $0.75 per share on March 10, 2022.
The case is Maeshiro v Yatsen Holding Limited, et al., No. 22-cv-08165.