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SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Cloopen Group Holding Limited of a Class Action Lawsuit and a Lead Plaintiff Deadline of February 8, 2022 - RAAS
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PR Newswire
NEW YORK, Jan. 27, 2022
NEW YORK, Jan. 27, 2022 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All investors in Cloopen Group Holding Limited ("Cloopen" or the "Company") (NYSE: RAAS) who: (a) purchased or otherwise acquired Cloopen American Depositary Shares pursuant and/or traceable to the Company's February 2021 initial public offering; and/or (b) purchased or otherwise acquired Cloopen securities between February 9, 2021 and May 10, 2021. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.There is no cost or obligation to you.
Cloopen Group Holding Limited NEWS - RAAS NEWS
CASE DETAILS: According to the filed complaint: an increasing number of Cloopen customers were refusing to pay, forcing the Company to record massive increases in its accounts receivables and allowance for doubtful accounts. The documents issued in connection with the Company's initial public offering also failed to disclose that Cloopen was weighted down by massive liabilities related to the fair value of certain recently-granted warrants.
WHAT THIS MEANS TO SHAREHOLDERS: If you suffered a loss in Cloopen, you have until February 8, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Cloopen securities during the relevant timeframe, you may be entitled to compensation without payment of any out-of-pocket costs or fees.
PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form https://www.zlk.com/pslra-1/cloopen-group-holding-limited-loss-submission-form?prid=22631&wire=4 or call 212-363-7500 to discuss the case with Joseph E. Levi, Esq.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
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