NEW ORLEANS, Oct. 25, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, is reminding investors they have until November 22, 2022 Lead plaintiff’s motions in a securities class action lawsuit against Yatsen Holding Limited YSGif they acquired the Company’s American Depository Shares (“ADS”) between November 19, 2020 and March 10, 2022 inclusive (the “Collection Period”) and/or pursuant to the Company’s November 2020 IPO (the “IPO”) bought ). This lawsuit is pending in the United States District Court for the Southern District of New York.

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Yatsen investors should visit us at https://claimsfiler.com/cases/nyse-ysg/ or call toll free (844) 367-9658. Kahn Swick & Foti, LLC attorneys are available to discuss your legal options.

About the lawsuit

Yatsen and certain of its officers are alleged to have failed to disclose material information during the Class Period and/or in the registration statement and prospectus issued in connection with the IPO, in violation of federal securities laws.

On March 10, 2022, the Company reported its financial results for the fourth quarter and full year for the period ended December 31, 2021 and reported decreases in both total net sales for the fourth quarter of 22.1% and gross sales for the fourth quarter dated 17.2% due to “weak consumer demand and intense competition in the color cosmetics segment”, including issues with the Perfect Diary brand as well as the Little Ondine brand.

As a result of this news, Yatsen’s ADS stock plummeted, falling 39.5% to close at just over $0.75 per share on March 10, 2022.

The case is Maeshiro v Yatsen Holding Limited, et al., No. 22-cv-08165.

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