Jumei International Holding Limited : American Depositary Shares Securities Litigation
On or around 01/11/2017 (Date of order of final judgment)
Filing Date: December 11, 2014
According to the law firm press release, the lawsuit alleges that the defendants made false and misleading statements and/or failed to disclose that: (1) the Company was changing its revenue model by transition away from marketplace services to merchandise sales; (2) this transition posed a significant risk to the Company’s financial performance; and (3) the Company was not expanding its marketplace services as claimed. As a result, the lawsuit claims that when these adverse facts became known, the value of Jumei’s securities dropped, damaging investors.
On January 10, 2017, the Court issued an Order granting Defendant's motion to dismiss, and ordered this case to be closed.
Company & Securities Information
Defendant: Jumei International Holding Limited
Industry: Retail (Specialty)
Ticker Symbol: JMEI
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Chao Lu, et al. v. Jumei International Holding Limited, et al.