National class action law firm Glancy Prongay & Murray LLP (GPM) reminds investors of the December 7, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Huazhu Group Limited (Huazhu or the Company) (NASDAQ: HTHT) securities between May 14, 2018 and August 28, 2018, inclusive (the Class Period). Huazhu investors have until December 7, 2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
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 Companys 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 Companys 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 Companys goodwill would potentially suffer, leading to lower revenues; and (4) that, as a result of the foregoing, Defendants positive statements about the Companys business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
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If you purchased shares Huazhu during the Class Period you may move the Court no later than December 7, 2018 to ask the Court to appoint you as lead. 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. I f 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 protected], 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.
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