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.
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