LOS ANGELES, Jan. 31, 2022 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired KE Holdings Inc. ("KE Holdings" or the "Company") (NYSE: BEKE) American depository shares ("ADS") between August 13, 2020 and December 16, 2021, inclusive (the "Class Period"). KE Holdings investors have until February 28, 2022to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On December 16, 2021, Muddy Waters Research, a market analyst, released a report alleging multiple problems with KE Holdings, stating that the Company is "engaged in systemic fraud," and that its research showed that KE Holdings was overstating the agents and stores on its platforms; its gross transaction value ("GTV"); and its revenues, among other wrongdoing.
On this news, KE Holdings' share price fell $0.37, or 1.98%, to close at $18.31 per share on December 16, 2021, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants: (1) inflated the Company's GTV; (2) inflated the Company's revenues; (3) inflated the number of stores and agents using the Company's platform; and (4) that, as a result, of the foregoing, defendants' statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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If you purchased KE Holdings securities during the Class Period, you may move the Court no later than February 28, 2022to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased KE Holdings securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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SOURCE The Law Offices of Frank R. Cruz, Los Angeles
