MINISO Group Holding Ltd. and its underwriters will not face allegations that they failed to disclose the company directly owned and operated stores previously portrayed as franchises to investors.
A proposed class action alleging MINISO artificially inflated its share price by touting the franchise model and a joint venture to build a new headquarters, while concealing challenges to revenue, fails to show any material misrepresentations, according to the opinion filed Feb. 23 in US District Court for the Southern District of New York.
MINISO investors didn’t establish loss causation, failing to identify corrective disclosures from the company that prompted a ...
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