The action arises out of the Company’s misstatements materially overstating its store count, agent counsel, new home sales gross transaction value (“GTV”), and revenues. The complaint alleges that defendants made materially false and misleading statements and omissions, and engaged in a scheme to deceive the market. The truth began to come to light when Muddy Waters Capital LLC, a research based equity investor, revealed that KE Holdings was overstating the agents and stores on its platforms, its GTV, and its revenues, among other wrongdoing. These misstatements artificially inflated the price of KE Holdings’ ADSs and operated as a fraud or deceit on the Class. When the truth was revealed, the Company’s ADS price fell substantially and has continued falling since.
The alleged class includes : All persons or entities that purchased or otherwise acquired KE Holdings American depository shares between August 13, 2020 and December 16, 2021, inclusive.
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