Scott+Scott Attorneys at Law LLP Reminds Investors of Securities Class Action Against Baozun, Inc. (BZUN) and February 8 Deadline
NEW YORK--(BUSINESS WIRE)--Jan 30, 2020--
Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national securities and consumer rights litigation firm, reminds investors that a class action lawsuit has been filed against Baozun, Inc. (“Baozun” or the “Company”) (NASDAQ: BZUN), and certain other defendants, related to alleged violations of federal securities laws. If you purchased Baozun securities between March 6, 2019 and November 20, 2019, you are encouraged to contact a Scott+Scott attorney at (844) 818-6980 for more information. The deadline for lead plaintiff motions is February 8, 2020.
Baozun provides e-commerce services to brand partners in the People’s Republic of China.
The lawsuit alleges that defendants made false and misleading statements and/or failed to disclose adverse information regarding Baozun’s business and financial results; specifically, that Huawei Technologies Co., Ltd. (“Huawei”), a Chinese-based multi-national technology company, was one of Baozun’s largest brand partners, on a historical basis, and paid more add-on fees for the work Baozun did for it, increasing the revenues Baozun received for Huawei work, compared to Baozun’s other brand partners. This caused Baozun to report outsized revenue growth during the first half of 2019, which would be abruptly cut off during the second half 2019, after Baozun restructured its relationship with Huawei, as Huawei took much of its online merchandizing in-house.
On November 21, 2019, Baozun announced third quarter 2019 financial results that were lower than the market had been led to expect and provided dismal fourth quarter 2019 financial guidance, blaming, in large part, the adverse “impact from terminating our service agreement with one electronics brand.” Though Baozun did not disclose who that large “electronics brand” was, many in the financial media have suggested that it was Huawei.
On this news, the price of Baozun ADRs fell $7.60, or more than 17%, to close at $35.90 on November 21, 2019.
What You Can Do
If you purchased Baozun securities between March 6, 2019 and November 20, 2019, inclusive, or if you have questions about this notice or your legal rights, you are encouraged to contact attorney Rhiana Swartz at (844) 818-6980 or email@example.com.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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CONTACT: Rhiana Swartz
Scott+Scott Attorneys at Law LLP
230 Park Avenue, 17 Floor, New York, NY 10169-1820
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SOURCE: Scott+Scott Attorneys at Law LLP
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PUB: 01/30/2020 09:40 AM/DISC: 01/30/2020 09:40 AM