The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Yatsen Holding Limited (YSG)
In November 2020, Yatsen conducted its IPO, selling 58.75 million ADSs at $10.50 per ADS.
- In November 2020, Yatsen conducted its IPO, selling 58.75 million ADSs at $10.50 per ADS.
- On August 26, 2021, during a second quarter 2021 analyst call, Yatsen disclosed that its cosmetic line, Perfect Diary, had been deteriorating, requiring the Company to refocus.
- On this news, Yatsens stock price fell $1.03, or 17.6%, to close at $4.81 per ADS on August 26, 2021, thereby injuring investors.
- Then, on November 17, 2021, Yatsen released its third quarter 2021 financial results, revealing a significant decrease in gross sales from the Companys cosmetics brands.