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an increasing number of its customers were refusing to pay, forcing the Company to record massive increases in its accounts receivables and allowance for doubtful accounts. The Registration Statement also failed to disclose that Cloopen was weighted down by massive liabilities related to the fair value of certain recently-granted warrants.
If you incurred a loss on RAAS stocks purchased (a) American Depositary Shares pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s February 2021 initial public offering; and/or (b) securities between February 9, 2021 and May 10, 2021, inclusive, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the Southern District of New York, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until February 8, 2022 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
Enter the following information for this class action case- the deadline is approaching.
See If you Qualify for Monetary Reward
Loss Submission Form