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INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against BlueCity Holdings Limited and Encourages Investors with Losses to Contact the Firm

July 7, 2021 GMT

LOS ANGELES--(BUSINESS WIRE)--Jul 7, 2021--

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of BlueCity Holdings Limited (“BlueCity” or “the Company”) (NASDAQ: BLCT ) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. BlueCity issued a press release detailing its fourth quarter 2020 results on March 23, 2021. The Company announced revenue of $42.7 million, missing consensus estimates by almost $4 million. Based on this news, BlueCity’s ADS fell by 25% over the next two trading sessions.

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

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

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

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View source version on businesswire.com:https://www.businesswire.com/news/home/20210707005865/en/

CONTACT: The Schall Law Firm

Brian Schall, Esq.

310-301-3335

info@schallfirm.com

www.schallfirm.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: The Schall Law Firm

Copyright Business Wire 2021.

PUB: 07/07/2021 03:32 PM/DISC: 07/07/2021 03:32 PM

http://www.businesswire.com/news/home/20210707005865/en