AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Glancy Prongay & Murray LLP Continues Its Investigation on Behalf of Yunji Inc. Investors

November 8, 2019 GMT

LOS ANGELES--(BUSINESS WIRE)--Nov 8, 2019--

Glancy Prongay & Murray LLP (“GPM”) continues its investigation on behalf of Yunji Inc. (“Yunji” or the “Company”) (NASDAQ: YJ ) investors concerning the Company and its officers’ possible violations of federal securities laws.

If you are a shareholder who suffered a loss, click here to participate.

In May 2019, Yunji held its initial public offering (“IPO”), in which it sold 11 million American Depositary Shares (“ADSs”) for $11 per share.

On August 22, 2019, Yunji announced its second quarter 2019 financial results and noted that its total revenues had decreased significantly from the same period in the prior year. According to the Company, this decrease was primarily due to “a decrease in revenues from sales of merchandise, which recognizes revenues on a gross basis, as the Company shifted part of merchandise sales to its marketplace platform, which recognizes revenues on a net basis.”

On this news, Yunji’s share price fell $4.55 per share, or nearly 43%, over the following four trading sessions, closing at $6.05 per share on August 27, 2019, thereby injuring investors. Since the IPO, Yunji shares have traded as low as $4.91, or nearly 55% below the IPO price.

If you purchased Yunji shares, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley F. Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191108005065/en/

CONTACT: Glancy Prongay & Murray LLP, Los Angeles/New York

Lesley F. Portnoy, 310-201-9150 or 888-773-9224

shareholders@glancylaw.com

www.glancylaw.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Glancy Prongay & Murray LLP

Copyright Business Wire 2019.

PUB: 11/08/2019 11:00 AM/DISC: 11/08/2019 11:01 AM

http://www.businesswire.com/news/home/20191108005065/en