Investigation
BioXcel Therapeutics, Inc. (BTAI)
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
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Investigation
07/26/2022
Initial Lawsuit
08/17/2022
Lawsuit Progression
10/17/2022
A MINISO Group Holding Limited (MSNO) shareholder filed a class action lawsuit on behalf of persons or entities who purchased or otherwise acquired publicly traded MINISO securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with MINISO’s October 2020 initial public offering.
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors 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) the company did not represent its true business model;
(4) Defendants, including the company and its chairman, engaged in planned unusual and unclear transactions;
(5) as a result of at least one of these transactions, the company is at risk of breaching contracts with PRC authorities;
(6) the company would imminently and drastically drop its franchise fees; and
(7) 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.
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.