Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against KE Holdings Inc. (BEKE)
LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming February 28, 2022 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired KE Holdings Inc. (“KE Holdings” or the “Company”) (NYSE: BEKE) American depository shares (“ADS”) between August 13, 2020 and December 16, 2021, inclusive (the “Class Period”).
If you suffered a loss on your KE Holdings investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/ke-holdings-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at email@example.com to learn more about your rights.
On December 16, 2021, Muddy Waters Research, a market analyst, released a report alleging multiple problems with KE Holdings, stating that the Company is “engaged in systemic fraud,” and that its research showed that KE Holdings was overstating the agents and stores on its platforms; its gross transaction value (“GTV”); and its revenues, among other wrongdoing.
On this news, KE Holdings’ share price fell $0.37, or 1.98%, to close at $18.31 per share on December 16, 2021, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants: (1) inflated the Company’s GTV; (2) inflated the Company’s revenues; (3) inflated the number of stores and agents using the Company’s platform; and (4) that, as a result of the foregoing, defendants’ statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased or otherwise acquired KE Holdings ADSs during the Class Period, you may move the Court no later than February 28, 2022 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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