Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against MINISO Group Holding Limited (“MINISO” or the “Company”) (NYSE: MNSO) on behalf of MINISO stockholders. Our investigation concerns whether MINISO has violated the federal securities laws and/or engaged in other unlawful business practices.
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The investigation concerns whether MINISO and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around October 15, 2020, MINISO conducted its initial public offering (“IPO”) of 30.4 million American Depositary Shares (“ADSs”), priced at $20.00 per ADS.
On July 26, 2022, Blue Orca Capital (“Blue Orca”) published a short report concerning MINISO. Citing a “seven-month investigation of Chinese corporate records and store level data,” the Blue Orca report alleged, among other things, that “hundreds of [MINISO] stores are secretly owned and operated by MINISO executives or individuals closely connected to the chairman” and that “Chinese corporate filings also indicate . . . that the chairman siphoned hundreds of millions from the public company through opaque Caribbean jurisdictions as the middleman in a crooked headquarters deal.”
On this news, the price of MINISO’s ADS declined intraday to $6.13, $0.87 lower than the July 26, 2022 opening price and $13.87 below the IPO price.
If you purchased or otherwise acquired MINISO shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.