According to the lawsuit, the Registration Statement featured false and/or misleading statements and/or failed to disclose that:
- defendants and other undisclosed related parties owned and controlled a much larger amount of MINISO stores than previously stated;
- as a result, MINISO concealed its true costs;
- the Company did not represent its true business model;
- defendants, including the Company and its Chairman, engaged in planned unusual and unclear transactions;
- as a result of at least one of these transactions, the Company is at risk of breaching contracts with Chinese authorities;
- the Company would imminently and drastically drop its franchise fees; and
- as a result, Defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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.
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