NEW YORK, Jan. 26, 2022 /PRNewswire/ -- The Gross Law Firm,
securities class action litigators, issues the following notice to
shareholders of Cloopen Group Holding Limited.
Shareholders 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 are
encouraged to contact the firm regarding possible lead plaintiff
appointment. Appointment as lead plaintiff is not required to
partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/cloopen-group-holding-limited-loss-submission-form/?id=22570&from=4
ALLEGATIONS: The complaint alleges that during the
class period, Defendants 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.
DEADLINE FEBRUARY 8,
2022: Shareholders should not delay in registering
for this class action. Register your information here:
https://securitiesclasslaw.com/securities/cloopen-group-holding-limited-loss-submission-form/?id=22570&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of RAAS during the timeframe
listed above, you will be enrolled in a portfolio monitoring
software to provide you with status updates throughout the
lifecycle of the case. There is no cost or obligation to you to
participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm's mission is to
protect the rights of all investors who have suffered as the result
of deceit, fraud, and illegal business practices. The Gross Law
Firm is committed to ensuring that companies adhere to responsible
business practices and engage in good corporate citizenship. Our
team puts in the work to get the maximum recovery on behalf of
investors. Attorney advertising. Prior results do not guarantee
similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm