BlueCity Holdings Limited

Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the American depositary shares (“ADSs”) of BlueCity Holdings Limited (NASDAQ: BLCT) pursuant and/or traceable to the offering documents issued in connection with the Company’s initial public offering conducted on or about July 8, 2020 (the “IPO” or “Offering”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 17, 2021.

If you purchased BlueCity securities pursuant and/or traceable to the July 2020 IPO and would like to join the action, please click “Join This Class Action,” above.

Class Period:Pursuant and/or traceable to the July 2020 IPO
If you purchased BlueCity securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

According to the lawsuit, The offering documents were negligently prepared and were false or misleading or failed to disclose that:

  • Defendants had overstated BlueCity’s business and financial prospects;
  • BlueCity was ill-equipped to absorb the costs of becoming a publicly traded company, including IPO- and growth-related costs;
  • As a result of all the foregoing, defendants had misrepresented the Company’s capability for sustainable growth; and
  • As a result, the offering documents were materially false or misleading and failed to state information required to be stated therein.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Company Name: BlueCity Holdings Limited
Stock Symbol: BLCT
Class Period: Pursuant and/or traceable to the July 2020 IPO
Court: United States District Court for the Eastern District of New York

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The Rosen Law Firm has been ranked among the top 4 law firms each year since 2013 for the number of successful securities class actions on behalf of investors. In 2019 alone, our firm recovered $438 million for investors.

Investors should carefully identify and select experienced counsel with a track record of success leading securities class actions. Often other firms issue press releases about class actions yet do not have comparable experience or resources.

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The Rosen Law Firm represents investors throughout the globe. Our mission is to prosecute securities fraud class actions and protect shareholders’ rights.

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