First High-School Education Group Co., Ltd. Investors: Class Action Lawsuit Filed to Recover Investors Losses; Portnoy Law Firm
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LOS ANGELES, May 12, 2022 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises First High-School Education Group Co., Ltd. (“First High-School Education ” or the “Company”) (NYSE: FHS) investors that a class action filed on behalf of investors that purchased First High-School Education Group shares and lost money are encouraged to contact the firm to discuss their legal rights.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: firstname.lastname@example.org, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
According to the lawsuit, the Company’s IPO Registration Statement was materially false and misleading and omitted to state: (1) the new rules, regulations, and policies to be implemented by the Chinese government following the Two Sessions parliamentary meetings were far more severe than represented to investors and posed a material adverse threat to First High-School Education Group and its business; (2) contemplated Chinese regulations and rules regarding private education were leading to a slowdown of government approval to open new educational facilities which would have a negative effect on First High-School Education Group’s enrollment and growth; and (3) as a result, the Registration Statement’s representations regarding First High-School Education Group’s historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of First High-School Education Group at the time of the IPO, and were materially false and misleading and lacked a factual basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
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