Missfresh (MF) Investor Settlement
Missfresh reached an agreement with $MF investors to settle claims about the financial misrepresentation and the issues with Registration Statement.
Case Details:
On April 29, 2022, Missfresh informed the SEC of its delay in filing the Annual Report for the fiscal year ended December 31, 2021. Moreover, an independent Audit Committee was reviewing transactions with third-party enterprises.
On this news, $MF fell 23% on May 2, 2022.
Then, on May 24, 2022, Missfresh received a letter from NASDAQ stating non-compliance with listing requirements.
On July 1, 2022, Missfresh announced completion of its review, revealing potential inaccuracies in revenue recording for 2021.
On July 6, 2022, $MF dropped by 97% compared to the IPO price.
Based on these events, Missfresh and its leaders were accused of the following details:
Missfresh included inaccurate financial data in its Registration Statement.
Missfresh needs to update its financials, revealing lower net revenues for the quarter ending March 31, 2021.
Missfresh reached an agreement with $MF investors to settle claims about the financial misrepresentation and the issues with Registration Statement.
Frequently Asked Questions
All Persons who purchased or acquired $MF between June 25, 2021, and July 12, 2022, inclusive.
No, if you have purchased securities within the class period, you are eligible to participate.
You can participate in the settlement and retain (or sell) your securities.
The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
If you're eligible, you can file your claim directly from this case page by clicking the "Collect Payout" button.
More than 100 companies are currently paying out settlements. Connect your brokerage account to automatically check which ones you may have missed — or file manually for this case.