Investigation announced for Investors in shares of Huazhu Group Limited (NASDAQ: HTHT)
An investigation for investors in Huazhu Group Limited (NASDAQ: HTHT) shares over potential securities laws violations.
An investigation was announced over potential securities laws violations by Huazhu Group Limited.
Investors who purchased shares of Huazhu Group Limited (NASDAQ: HTHT), have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 – 1554.
The investigation by a law firm focuses on whether a series of statements by Huazhu Group Limited regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
China based Huazhu Group Limited, together with its subsidiaries, develops leased and owned, manachised, and franchised hotels primarily in the People’s Republic of China. On September 21, 2020, a report was issued on Huazhu Group Limited, asserting that Huazhu Group Limited allegedly “lied about the ownership of its hotel portfolio to produce fake financials.” The report “confirmed that Huazhu secretly supported operating costs of franchisee hotels owned by undisclosed current Huazhu employees & other undisclosed related parties.” The report also asserted that “Huazhu concealed operating expenses using undisclosed related party transactions to artificially inflate Huazhu’s reported profits” and that it “calculate[s] that Huazhu’s fake profits manifested as RMB 2 billion (US $300 million) of fake PP&E on its CYE ’19 balance sheet.”
Shares of Huazhu Group Limited (NASDAQ: HTHT) declined from $42.91 per share on September 18, 2020 to $39.17 per share on September 21, 2020.
Those who purchased shares of Huazhu Group Limited (NASDAQ: HTHT) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North
San Diego, CA 92108
E-Mail: [email protected]
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
This release was published on openPR.
Originally Published on : https://www.openpr.com/news/2161370/investigation-announced-for-investors-in-shares-of-huazhu-group
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