SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Onion ...
NEW YORK, June 28, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Onion Global Limited (“Onion Global” or the “Company”) (NYSE: OG). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Onion Global and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around May 7, 2021, Onion Global conducted its initial public offering (“IPO”), selling approximately 9.3 million shares of stock priced at $7.25 per share. Then, on June 10, 2021, Onion Global issued a press release announcing the Company’s unaudited financial results for the first quarter of 2021. Among other results, Onion Global reported total revenues of RMB668.9 million, compared to RMB709.4 million in the same period of 2020; gross profit of RMB125.7 million, compared to RMB187.8 million in the same period of 2020; and net income attributable to the Company’s ordinary shareholders of RMB8.9 million, compared to RMB55.3 million in the same period of 2020.
Since the IPO, the value of Onion Global’s stock has fallen sharply, closing as low at $3.85 per share on June 21, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby