NEW YORK, Feb. 7, 2022 /PRNewswire/ -- Attention Cloopen Group Holding Limited ("Cloopen") (NYSE: RAAS) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors. This lawsuit is on behalf of all persons who: (a) purchased or otherwise acquired Cloopen American Depositary Shares pursuant and/or traceable to the Company's February 2021 initial public offering; and/or (b) purchased or otherwise acquired Cloopen securities between February 9, 2021 and May 10, 2021.
If you suffered a loss on your investment in Cloopen, contact us about potential recovery by using the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/cloopen-group-holding-limited-loss-submission-form?prid=23353&wire=4
ABOUT THE ACTION: The class action against Cloopen includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: an increasing number of Cloopen customers were refusing to pay, forcing the Company to record massive increases in its accounts receivables and allowance for doubtful accounts. The documents issued in connection with the Company's initial public offering also failed to disclose that Cloopen was weighted down by massive liabilities related to the fair value of certain recently-granted warrants.
DEADLINE: February 8, 2022
Aggrieved Cloopen investors only have until February 8, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
View original content:https://www.prnewswire.com/news-releases/class-action-alert-the-law-offices-of-vincent-wong-remind-cloopen-investors-of-a-lead-plaintiff-deadline-of-february-8-2022-301475784.html
SOURCE The Law Offices of Vincent Wong
