New York, New York--(Newsfile Corp. - March 14, 2024) - WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Hywin Holdings Ltd. (NASDAQ: HYW) resulting from allegations that Hywin Holdings may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Hywin Holdings securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=21975 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
WHAT IS THIS ABOUT: On December 14, 2023, before the market opened, Hywin Holdings released a press release entitled "Hywin Holdings Reports Redemption Issues Relating to Certain Asset-Backed Products." This press release stated, in pertinent part, that "redemption issues have been reported on certain asset-backed products previously distributed by the Company. The asset managers of these products were unable to reach an agreement with the relevant clients to defer redemption. While the Company acted only as distributor of these asset-backed products, the clients are now demanding repayment from the Company. Any failure to adequately deal with these redemption issues could materially and adversely affect our reputation, client relationship, business, financial condition and prospects. The Company has formed a special investigation committee comprised of members of senior management to oversee an internal investigation."
On this news, the price of Hywin American Depositary Receipts ("ADRs") fell by $0.53 per ADR, or 16%, to close at $2.77 per ADR on December 14, 2023.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
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Attorney Advertising. Prior results do not guarantee a similar outcome.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/201818
