MINISO Group Holding Limited (MSNO) Securities Fraud Class Action

Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired MINISO Group Holding Limited (“MINISO”) (NYSE: MNSO) (1) American Depository Shares (“ADS”) pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with MINISO’s initial public offering (“IPO”) on or around October 15, 2020; and/or (2) securities between December 11, 2020 through July 26, 2022, inclusive (the “Class Period”).

The complaint alleges that, in the  Registration Statement and throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendants and other undisclosed related parties owned and controlled a much larger amount of MINISO stores than previously stated; (2) as a result, MINISO concealed its true costs; (3) MINISO did not represent its true business model; (4) Defendants, including MINISO and its Chairman, engaged in planned unusual and unclear transactions; (5) as a result of at least one of these transactions, MINISO is at risk of breaching contracts with Chinese authorities; (6) MINISO would then imminently and drastically drop its franchise fees; and (7) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Current Status of Case:
On March 31, 2026, the Court granted Defendants’ Motion to Dismiss the Complaint. On April 29, 2026, Lead Plaintiff appealed the District Court’s dismissal to the United States Court of Appeals for the Second Circuit. The appeal is ongoing.

If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at [email protected]. If you would like additional information about the suit, please click on the link “Submit Your Information” above and fill out the form as promptly as possible.  

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs’ Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.