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Portnoy Law: Lawsuit Filed On Behalf of BlueCity Holdings Limited Investors

Portnoy Law
·1-min read

Click here to join the case

LOS ANGELES, July 28, 2021 (GLOBE NEWSWIRE) --
​
The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of BlueCity Holdings Limited ("BlueCity" or "the Company") (NASDAQ : BLCT) investors that acquired securities in relation to BlueCity’s July 8, 2020 initial public offering.

Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.

It is alleged in this complaint that the Registration Statement contained misleading and/or false statements and/or failed to disclose that: (1) BlueCity’s business and financial prospects were overstated; (2) BlueCity was ill-equipped to absorb the costs relating to existing as a publicly traded company, which included IPO- and growth-related costs; (3) Defendants had misrepresented BlueCity’s capability for sustainable growth, as a result of all the foregoing; and (4) the Offering Documents were materially false or misleading and failed to state information required to be stated therein, as a result.

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Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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