NASDAQ: BLCT | BlueCity Holdings Securities Fraud Investigation
Shamis Gentile, a corporate securities fraud law firm, announces it is investigating potential securities claims on behalf of shareholders of BlueCity Holdings Limited (NASDAQ: BLCT) resulting from allegations that BlueCity may have issued materially misleading business information to the investing public.
If you purchased BlueCity Holdings Limited securities and would like to join the action, please contact us immediately! Such investors are advised to contact attorney Andrew Shamis at info@shamisgentile.com or 305-479-2299.
BlueCity Holdings Class Action Press Release
Shamis Gentile Encourages BlueCity Holdings Limited Investors with Losses to Inquire About Class Action Investigation – BLCT
WHY: Shamis Gentile, a corporate securities fraud law firm, announces it is investigating potential securities claims on behalf of shareholders of BlueCity Holdings Limited (NASDAQ: BLCT) resulting from allegations that BlueCity may have issued materially misleading business information to the investing public.
WHAT: If you purchased BlueCity Holdings securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the BlueCity Holdings securities class action, please contact Andrew J. Shamis, Esq. at 305-479-2299 or email info@shamisgentile.com for information on the class action.
WHAT IS THIS ABOUT: On or about July 8, 2020, BlueCity conducted its initial public offering (“IPO”), issuing 5,300,000 American Depositary Shares (“ADSs”) priced at $16.00 per ADS. Then, on March 23, 2021, BlueCity issued a press release announcing its results for the fourth quarter of 2020. Among other results, BlueCity announced revenue of $42.7 million, missing consensus estimates by $3.92 million.
On this news, BlueCity’s ADS price fell $2.15 per ADS, or over 25%, over the following two trading sessions, to close at $8.92 per ADS on March 24, 2021. BlueCity’s ADSs now trade below $8.00 per ADS, less than half of the $16.00 IPO price.
WHY SHAMIS GENTILE LAW: Shamis & Gentile, P.A. is dedicated in helping misled shareholders recover damages caused by corporate fraud and other misconduct. Our securities attorneys have a wealth of knowledge and experience handling complex litigation cases and achieving significant victories and settlements for clients (over 500 million recovered and counting). In addition to our experience litigating securities cases, our attorneys have been routinely certified class counsel throughout the country where our firm has gained a reputation of one that litigates the right way and achieves large monetary settlements. Our team comes from diverse and unique backgrounds, making us equipped to bring the fight anytime and anywhere on behalf of our clients.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Andrew J. Shamis, Esq.
Shamis & Gentile, P.A.
Miami Headquarters
14 NE 1st Ave, Suite 705,
Miami, FL 33132
Tel: 305-479-2299
Fax: 786-623-0915
