Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of YS Biopharma Co., Ltd. f/k/a Summit Healthcare Acquisition Corp. (NASDAQ: YS, SMIH) resulting from allegations that YS Biopharma may have issued materially misleading business information to the investing public.
If you purchased YS Biopharma securities and would like to join the prospective action, please click “Join This Class Action.”
On March 16, 2023, YS Biopharma merged with Summit Healthcare. Previously, the Company failed to disclose that Summit intended from its inception to merge with YS Biopharma, or Yishengbio, a low-quality Chinese biopharma running at a loss, damaging Summit public shareholders’ interests.
On this news, YS Biopharma’s stock price fell $2.60, or 20%, to close at $10.14 per share on March 17, 2023.
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