MINISO, Chinese daily necessities chain stores, accused of IPO files involving fraud and deception, and may face collective lawsuits from American investors.
Comprehensive Network Media "Hong Kong 01" and Hong Kong's financial media "FORTUNE Insight" reported that Robbins Geller Rudman Dowd LLP, California, California, saidThe shareholders plan to appoint the office as a representative before October 17 this year, that is, the chief plaintiff to conduct a collective lawsuit of Mingchuang Youpin.
Mingchuang Youpin is accused of being false, misleading, and unveiled content.Charges with violations of securities laws.Therefore, the shareholders plan to make a collective lawsuit on the above parties.The legal firm pointed out that the number of branches disclosed by Mingchuang Youpin is much lower than the actual number of shops, questioning the cost of Namchuang Youpin to conceal the real cost, and did not truthfully disclose the company's business model.
The collective litigation statement also accused that the famous and innocent and the defendant, including its chairman, may participate in planned abnormalities and unclear transactions, and at least one of them may make Mingchuang YoupinpinFacing the risk of violating the official contract with China, and immediately significantly reduced its franchise costs.
In addition, New Orleans' law firm Kahn Swick Foti LLC and POMERANTZ LLP in New York have successively stated that investors representing Name Chuangyou claim to the company, and the investigation content involves Name Chuang Youpin andWhether its senior and directors conduct securities fraud or other illegal business behaviors.
The collective lawsuit submitted by the American law firm also mentioned that the short -selling agency's Blue ORCA Capital issued a report as early as the end of July, accusing the names of the name of 99%of its Chinese branches.It is operated by an independent franchisee, but after seven months of investigation, it is found that 620 famous creation stores are actually owned or operated by insiders closely related to the company's senior management or chairman.Light assets, high profit models ".The report believes that overwhelming evidence indicates that Mingchuang Youpin misleads the market in the core business and is a brand in serious danger.
But Mingchuang Youpin then refuted. The allegations of the short -selling report have no basis."The allegations were unprepared.Mingchuang Youpin also said that the company's board of directors considered adopting appropriate actions to protect the interests of all shareholders and decided to establish an independent committee consisting of independent directors Xu Lili, Zhu Baohua and Wang Yongping.When work, an independent professional consultant will be hired to assist independent investigations.
In addition, the official Weibo stated by Mingchuang Youpin last month that the group had been promoted by the "Japanese designer brand" as a propaganda in the early days of global development.Cause emotional damage to consumers.The group felt self -blame and apologized solemnly, and promised to complete the "de -dailyization" rectification by March 2023.Mingchuang Youpin emphasized that from beginning to end, it is a Chinese company. It is necessary to be a Chinese brand, saying that the group will integrate Chinese culture and trend elements into products in the future, promote Chinese culture, and represent Chinese retail brands in the global consumer market.Essence
