MINISO Group Holding Limited

Ticker: MNSO

Registration Deadline: 10/17/2022

A securities class action lawsuit has been filed in the USDC, CA. on behalf of purchasers of the securities of MINISO Group Holding Limited (NYSE: MNSO) pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with MINISO’s October 2020 initial public offering (the “IPO”). The lawsuit seeks to recover damages for MINISO investors under the federal securities laws.

MINISO purports to be a fast-growing global value retailer which serves consumers primarily through its large network of MINISO stores.

On October 15, 2020, MINISO sold approximately 30,400,000 American Depositary Shares (“ADSs”) at a price of $20 per share, generating proceeds of over $600 million.

According to the lawsuit,  the Registration Statement featured false and/or misleading statements and/or failed to disclose that:

  • defendants and other undisclosed related parties owned and controlled a much larger amount of MINISO stores than previously stated;
  • as a result, MINISO concealed its true costs;
  • the Company did not represent its true business model;
  • defendants, including the Company and its Chairman, engaged in planned unusual and unclear transactions;
  • as a result of at least one of these transactions, the Company is at risk of breaching contracts with Chinese authorities;
  • the Company would imminently and drastically drop its franchise fees; and
  • 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.

If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.

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