| 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:
A class action lawsuit has been filed 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 June 23, 2023, Defendants filed a Motion to Dismiss the action. That Motion is currently being briefed by the parities. 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.