NEW YORK, June 24, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of First High-School Education Group Co., Ltd. (NYSE: FHS).
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This lawsuit is on behalf of all persons or entities who purchased FHS American Depositary Shares in or traceable to the Company's March 2021 initial public offering.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until July 11, 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, First High-School Education Group Co., Ltd. issued materially false and/or misleading statements and/or failed to disclose that: (a) 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 the Company and its business; (b) 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 FHS's enrollment and growth; and (c) as a result, representations made in connection with the Company's initial public offering regarding FHS's historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of the Company at the time of the initial public offering, and were materially false and misleading and lacked a factual basis.
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.
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SOURCE Jakubowitz Law