Milberg LLP Announces Investigation of Jumei International Holdings Ltd
NEW YORK, Dec. 15, 2014 /PRNewswire/ -- Milberg LLP announces that it is investigating Jumei International Holdings Ltd ("Jumei" or the "Company"), and that a class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of purchasers of Jumei securities (NYSE: JMEI), during the period May 16, 2014 to November 19, 2014, ("the Class Period").
The complaint alleges that throughout the Class Period, Jumei and certain of its officers violated the federal securities laws by disseminating false and misleading statements to the investing public.
Specifically, defendants made false and misleading statements and/or failed to disclose that: (1) Jumei was changing its revenue model by transiting away from marketplace services to merchandise sales; (2) this transition posed a significant risk to the Jumei's previously successful financial performance; and (3) Jumei was not expanding its marketplace services as claimed. As a result, the lawsuit claims that when these adverse facts became known, the value of Jumei's securities dropped, damaging investors.
Shares of Jumei ADSs declined from as high as $39.45 on August 18, 2014 to as low as $12.87 on December 11, 2014.
If you purchased Jumei shares between May 16, 2014 and November 19, 2014, you may, no later than February 10, 2015, request that the Court appoint you lead plaintiff. A lead plaintiff is a class member that directs the litigation. Your share in any recovery will not be affected by serving as a lead plaintiff. You do not need to be a lead plaintiff to recover. You may retain Milberg LLP, or other attorneys, for this action, but do not need to retain counsel to recover. If this action is certified as a class action, class members will be automatically represented by Court-appointed counsel. The complaint in this action was not filed by Milberg.
If you would like to learn more about this potential matter, please contact the following attorney:
Andrei Rado, Esq.
Milberg LLP
One Pennsylvania Plaza, 49th Fl.
New York, NY 10119-0165
Phone number: (800) 320-5081
Email: [email protected]
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/milberg-llp-announces-investigation-of-jumei-international-holdings-ltd-300009868.html
SOURCE Milberg LLP
Share this article