SAN DIEGO, Oct. 13, 2022 (GLOBE NEWSWIRE) —

The class: Law firm for shareholder rights Robbins LLP reminds investors that a shareholder on behalf of all persons and entities who acquired American Depository Shares (ADS) in Yatsen Holding Limited (NYSE: YSG) between November 19, 2020 and March 10, 2022 for violations of the Securities Exchange Act have filed a class action lawsuit dated 1934. The lawsuit also seeks damages on behalf of any person or entity who, pursuant to the Company’s offering documents, purchased or acquired Yatsen ADS in connection with its initial public offering (“IPO”). Yatsen is a China-based holding company engaged in the manufacture and sale of cosmetic and skin care products.

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What is it about in this case: Yatsen Holding Limited (YSG) has misled investors about the financial health of its cosmetics brands

According to the lawsuit, during the class period, the defendants misled investors into believing that Yatsen’s two largest and most historically significant brands, Perfect Diary and Little Ondine, were thriving, thereby fueling Yatsen’s “healthy” revenue growth at the time of the IPO have quarter after quarter after that. In truth, however, cosmetics and skincare sales of Perfect Diary and Little Ondine products were declining in the period leading up to (and including) the time of the IPO and continued to decline throughout 2021.

The truth began to emerge on August 26, 2021 during the 2Q21 analyst call. Despite touting Perfect Diary and Little Ondine’s “stable” and “healthy” performance, defendants admitted Yatsen’s Perfect Diary business was (and had) deteriorating, forcing Yatsen to “refocus and also increase resources.” provide to continue the growth trend of [its] Major Brands.” As a result of the news, Yasten’s stock price fell 17.64% to close at $4.81 per share.

On November 17, 2021, Yatsen’s…