LOS ANGELES–(BUSINESS WIRE)–$HTHT #CLASSACTION–National law firm Glancy
Prongay & Murray LLP (“GPM”) announces that it has filed a class
action lawsuit in the United States District Court for the Central
District of California on behalf of persons and/or entities that
acquired Huazhu Group Limited (“Huazhu” or the “Company”)
securities between May 14, 2018 and August 28, 2018, inclusive
(the “Class Period”). Plaintiff pursues claims against the Defendants,
under the Securities Exchange Act of 1934.
Huazhu investors are hereby notified that they have 60 days from
the date of this notice to move the Court to serve as lead plaintiff
in this action.
If you are a shareholder who suffered a loss, click here
On August 28, 2018, media outlets reported that Chinese police were
investigating a possible leak of client information from Huazhu, stating
that nearly 500 million pieces of customer-related information,
including registration information, personal data, and booking records,
had emerged in an online post. On this news, the Company’s share price
fell $1.55 per share, or approximately 4.36%, to close at $33.98 per
share on August 28, 2018.
The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts about
the Company’s business, operations, and prospects. Specifically,
Defendants failed to disclose to investors: (1) that the Company lacked
adequate security measures to protect customer information; (2) that, as
a result of the foregoing, the Company would be susceptible to increased
litigation risk and higher expenses; (3) that, as a result of the
foregoing, the Company’s goodwill would potentially suffer, leading to
lower revenues; and (4) that, as a result of the foregoing, Defendants’
positive statements about the Company’s business, operations, and
prospects were materially false and/or misleading and/or lacked a
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If you purchased Huazhu securities during the Class Period, you may move
the Court no later than 60 days from the date of this notice to
ask the Court to appoint you as lead plaintiff. To be a member of the
Class you need not take any action at this time; you may retain counsel
of your choice or take no action and remain an absent member of the
Class. If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, of
GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at
310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.