Phoenix Tree Holdings Limited : American Depositary Shares Securities Litigation
On or around 04/24/2020 (Date of last review)
Filing Date: April 24, 2020
According to the Complaint, Phoenix Tree Holdings Limited leases and operates properties in China and rents apartments to individuals and corporations, primarily for co-living arrangements in which the tenants, who may not have previously known each other, live together.
This is a securities class action on behalf of all purchasers of American Depositary Shares of Phoenix (“ADS”) pursuant and/or traceable to prospectuses and registration statements, as amended (together, “Offering Materials”), issued in connection with the Company’s January 22, 2020 initial public offering (“IPO”).
The Complaint alleges that the Offering Materials omitted or otherwise misrepresented the nature and level of renter complaints the Company had received before and as of the IPO, as well as demand in the Chinese residential rental market, and the Company’s exposure to significant adverse developments, resulting from the onset of the coronavirus in China – particularly in Wuhan – at the time of the IPO.
Company & Securities Information
Defendant: Phoenix Tree Holdings Limited
Industry: Real Estate Operations
Ticker Symbol: DNK
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
Katherine Wandel, et al. v. Phoenix Tree Holdings Limited, et al.