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RADNOR, Pa., Jan. 29, 2022 /PRNewswire/ — The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Cloopen Group Holding Limited (“Cloopen”) (NYSE:RAAS). The action charges Cloopen with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company’s business, operations, and prospects. As a result of Cloopen’s materially misleading statements to the public, Cloopen investors have suffered significant losses.
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CLICK HERE TO SUBMIT YOUR CLOOPEN LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE IN YOUR BROWSER: https://www.ktmc.com/clopen-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=clopen
LEAD PLAINTIFF DEADLINE: February 8, 2022
CLASS PERIOD: February 9, 2021 through May 10, 2021
CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:
James Maro, Esq. (484) 270-1453 or Toll Free (844) 887-9500 or Email at info@ktmc.com
CLOOPEN’S ALLEGED MISCONDUCT
Cloopen provides cloud-based communications solutions which allow application programing interfaces and software development kits to embed messaging, voice call, audio and video, instant messaging, and other communications into enterprises’ applications, services, and/or business processes.
On February 9, 2021, Cloopen conducted its initial public offering (“IPO”), selling 23 million American Depositary Shares (“ADSs”) at $16.00 per ADS. Then, on March 26, 2021, Cloopen published its 2020 fourth quarter financial results for the period ending December 31, 2020. Cloopen reported revenues of only $39.6 million …
Full story available on Benzinga.com
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