Missfresh Gets Investors Class Suit Over IPO Disclosure Trimmed

Grocery delivery company Missfresh Ltd., as well as its leaders and underwriters are free of several claims in a shareholder’s securities class action over its initial public offering, a federal judge said Monday.

The Chinese company, which held its IPO of American depository shares in June 2021, still faces claims related to certain financial restatements resulting from overstated net revenues and sales in the quarter before it went public, according to the opinion issued in the US District Court for the Southern District of New York.

Investors allege that Missfresh overstated its revenues and sales through online platforms by ...