Chinese Real Estate Platform Beike Faces Some Investor Claims

KE Holdings Inc. investors may proceed with claims that the company, which operates the Beike online brokerage platform for real estate in China, misrepresented various business metrics in its secondary public offering, a federal court ruled.

But the investors didn’t adequately support all the misrepresentations they claimed in the proposed class action, Judge Gregory H. Woods said Monday for the US District Court for the Southern District of New York.

And they failed to show the necessary level of intent for securities fraud claims under the Securities Exchange Act, he said.

Investors aren’t required to plead intent when alleging misstatements ...