RAAS SHAREHOLDER ALERT: Jakubowitz Law Reminds Cloopen Shareholders of a Lead Plaintiff Deadline of February 8, 2022
NEW YORK, Jan. 28, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Cloopen Group Holding Limited (NYSE: RAAS).
To receive updates on the lawsuit, fill out the form:
This lawsuit is on behalf of all persons who: (a) purchased or otherwise acquired Cloopen American Depositary Shares pursuant and/or traceable to the Company's February 2021 initial public offering; and/or (b) purchased or otherwise acquired Cloopen securities between February 9, 2021 and May 10, 2021.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until February 8, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Cloopen Group Holding Limited issued materially false and/or misleading statements and/or failed to disclose that: an increasing number of Cloopen customers were refusing to pay, forcing the Company to record massive increases in its accounts receivables and allowance for doubtful accounts. The documents issued in connection with the Company's initial public offering also failed to disclose that Cloopen was weighted down by massive liabilities related to the fair value of certain recently-granted warrants.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
SOURCE Jakubowitz Law
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