| COMPANY |
MINISO Group Holding Limited |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
22-cv-09864 |
| JUDGE |
Edgardo Ramos |
| CLASS PERIOD |
MINISO's October 2020 Initial Public Offering |
| SECURITY TYPE |
Securities |
Case Background:
This is a class action lawsuit on behalf of those who purchased or acquired MINISO Group Holding Limited (“MINISO”) (NYSE: MNSO) securities pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with MINISO’s October 2020 initial public offering (the “IPO”).
The complaint against MINISO alleges that the IPO's Registration Statement was false and/or misleading 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 PRC authorities; and (6) MINISO would imminently and drastically drop its franchise fees.
Current Status of Case:
On February 23, 2024, the Court entered an Opinion and Order granting the Motion to Dismiss the Second Amended Complaint. Lead Plaintiff filed a Motion for Reconsideration regarding the Opinion and Order on March 22, 2024. This Motion has been fully briefed and is pending the Court’s decision. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. 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.