Phoenix Tree Holdings Limited
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Zhang Investor Law announces the a class action lawsuit on behalf of shareholders who bought shares of Phoenix Tree Holdings Limited (NYSE: DNK) from pursuant and/or traceable to prospectuses and registration statements issued in connection with the Company’s January 22, 2020, initial public offering (“IPO”). The lawsuit seeks to recover damages for Phoenix Tree Holdings Limited investors under the federal securities laws.
If you bought Phoenix Tree Holdings Limited securities pursuant and/or traceable to prospectuses and registration statements issued in connection with the Company’s January 22, 2020, initial public offering (“IPO”), and would like to join the action, please click “Join This Class Action,” above.
SHAREHOLDER ALERT: Zhang Investor Law Announces a Securities Class Action Lawsuit Against Phoenix Tree Holdings Limited – DNK
New York, N.Y., April 30, 2020. Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Phoenix Tree Holdings Limited (NYSE: DNK) pursuant and/or traceable to prospectuses and registration statements issued in connection with the Company’s January 22, 2020, initial public offering (“IPO”), inclusive (the “Class Period”).
To join the DNK class action, go to http://zhanginvestorlaw.com/cases/phoenix-tree-holdings-limited/ call Sophie Zhang, Esq. toll-free at 800-991-3756 or email firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU NEED NOT BE LEAD PLAINTIFF TO OBTAIN A RECOVERY.
According to the lawsuit, throughout the Class Period (1) Phoenix had received customer complaints and negative press regarding questionable business conduct before the IPO, including its widespread and notorious practice of deceptively inducing renters to procure loans whose proceeds financed the Company’s business and operations; (2) competition in the residential rental market in China had suffered at the time of the IPO as the coronavirus ravaged the very locations where Phoenix primarily operated, including Wuhan, the epicenter of the coronavirus pandemic; (3) Phoenix’s technological capabilities were unable to enable the Company to overcome the complications and erosion of business resulting from the spread of the coronavirus throughout China at the time of the IPO; (4) Phoenix was contending with extraordinarily adverse developments in China at the time of the IPO due to the coronavirus that presented events, risks and uncertainties that were reasonably likely to materially affect Phoenix’s business, operations and financial condition, including a material increase in renter complaints and negative press and the prospect that renters could not continue to pay rent and service fees under conditions then existing as of the IPO; (5) That, as a result of the foregoing, Phoenix was positioned no differently than its competitors in managing the fallout from customer complaints or adverse implications stemming from the coronavirus in China; and (6) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 26, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://zhanginvestorlaw.com/cases/phoenix-tree-holdings-limited/ or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. of Zhang Investor Law toll free at 800-991-3756 or via e-mail at email@example.com.
Zhang Investor Law represents investors worldwide.