BlueCity Holdings Stock Drops and a Lawsuit is Filed
A Lawsuit was filed on July 19, 2021 in connection with BlueCity Holdings Stock. According to the lawsuit filed in the New York Eastern District Court. The lawsuit alleges that the Registration Statement contained false and/or misleading statements and/or failed to disclose that: (1) Defendants had overstated BlueCity’s business and financial prospects; (2) BlueCity was ill-equipped to absorb the costs of becoming a publicly traded company, including IPO- and growth-related costs; (3) as a result of all the foregoing, Defendants had misrepresented BlueCitys capability for sustainable growth; and (4) as a result, the Offering Documents were materially false or misleading and failed to state information required to be stated therein. When the true details entered the market, the lawsuit claims that investors suffered damages and BlueCity Holdings stock price dropped. Deadline to join this case as lead plaintiff is September 17, 2021.
For More information as well as to join this case please contact Atara Twersky, Esq. at [email protected] and/or [email protected]. Atara is Principal at Twersky Law Group and Of counsel at AF&T law firm where she is director of Investor Services. Atara focuses her practice on assisting her clients with increasing their portfolio recoveries and ensuring that their portfolios remain healthy and robust. For more information on shareholder recoveries click here and to listen to Atara’s podcast with notable guests in the Pension fund Industry listen to Pension Trends Plus, on all matters related to your investment portfolio and more. For more information on Atara and her legal work connected to shareholder protection click here