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Baozun, Inc. (NASDAQ: BZUN)

Securities Class Action

  • Date:
  • 1/29/2020
  • Company Name:
  • Baozun, Inc.
  • Stock Symbol:
  • BZUN
  • Class Period:
  • FROM 3/6/2019 TO 11/20/2019
  • Status:
  • Investigating

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NEW YORK, January 29, 2020 – Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors that purchased Baozun, Inc. (NYSE: EXC) securities between March 6, 2019 and November 20, 2019 (the “Class Period”). Investors have until February 10, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

On November 21, 2019, Baozun announced its 3Q19 financial results for the interim period ended September 30, 2019 and provided its 4Q19 financial guidance. Rather than the revenues of $214 million Baozun had led the investment community to expect, the Company reported revenues of just $210.3 million. Likewise, earnings per ADR of $0.14 were below the $0.15 per ADR the investment community had been led to expect. More critically, Baozun disclosed the electronics customer loss would negatively impact results for the rest of 2019 and for the first half of 2020, stating that for the 4Q19 it now only expected revenues in the range of $384 million to $391.2 million, well below the $401 million the Company had led the investment community to expect based on its prior Class Period statements.

On this news, the market price of Baozun ADRs plummeted, declining by $7.60 per share, or approximately 17.5%, to close at $35.90 per share on November 21, 2019.

The complaint, filed on December 10, 2019, alleges that during the Class Period defendants made false and misleading statements and engaged in a scheme to deceive the market and a course of conduct that artificially inflated the price of Baozun ADRs and operated as a fraud or deceit on Class Period purchasers of Baozun ADRs by misrepresenting the value of the Company’s business and prospects. As Defendants’ misrepresentations and fraudulent conduct became apparent to the market, the price of Baozun ADRs fell precipitously, as the prior artificial inflation came out of the price. As a result of their purchases of Baozun ADRs during the Class Period, Plaintiff and other members of the Class suffered economic losses.

If you purchased Baozun shares during the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at  investigations@bespc.com, or telephone at (646) 860-9156, or by filling out the contact form below. There is no cost or obligation to you.
The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in Baozun. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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