BUSINESS: BlueCity Holdings Limited (NASDAQ BLCT). Long Term Investor Alert: Investigation into Possible Breach of Fiduciary Duty

dWeb.News Article from Daniel Webster dWeb.News

dWeb.News Article from Daniel Webster dWeb.News

BUSINESS: By Daniel Webster, dWeb.News Publisher

San Diego, CA — (SBWIRE) — 10/11/2021 — An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of BlueCity Holdings Limited.

Investors who are current long term investors in BlueCity Holdings Limited (NASDAQ: BLCT) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

A law firm investigating investors in NASDAQ stocks: BLCT stocks was prompted by a lawsuit against BlueCity Holdings Limited over alleged violations of securities laws. This investigation was conducted on behalf of long-term investors in NASDAQ BLCT stock. It focuses on whether certain directors of BlueCity Holdings Limited are liable for the allegations in that lawsuit.

The plaintiff alleges that the Registration Statement that was filed in connection with the IPO contained false and/or misleading statements and/or failed to disclose that Defendants had overstated BlueCity’s business and financial prospects, that BlueCity was ill-equipped to absorb the costs of becoming a publicly traded company, including IPO- and growth-related costs, that as a result of all the foregoing, Defendants had misrepresented BlueCity’s capability for sustainable growth, and that as a result, the Offering Documents were materially false or misleading and failed to state information required to be stated therein

Shareholders who bought shares in BlueCity Holdings Limited NASDAQ ) can contact the Shareholders Foundation for more information.

Contact:

Shareholders Foundation, Inc.

Michael Daniels

3111 Camino Del Rio North – Suite 423

92108 San Diego

Phone: +1-(858)-779-1554

Fax: +1-(858)-605-5739

mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.

The Shareholders Foundation Inc., a professional portfolio monitoring service and claim filing service, conducts research on shareholder issues and informs investors about securities class actions, settlements and judgments. Shareholders Foundation, Inc. keeps in touch with many shareholders and provides support, assistance, and help for all. The Shareholders foundation, Inc. is not an attorney firm. Shareholders Foundation is not involved in any referenced cases, investigations, or settlements. This information is provided for public use. This information is not meant to be considered legal advice and should not therefore be relied on.

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