SHAREHOLDER ALERT: The Law Offices of Timothy L. Miles Announces Yunji, Inc. (YJ) Accused of Misleading Investors in IPO; Yunji Investors Urged to Contact the Firm

HENDERSONVILLE, TN / ACCESSWIRE / November 15, 2019 / The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 18 years, announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of investors that purchased Yunji, Inc. (YJ) securities purchased pursuant and/or traceable to the registration statement and prospectus (collectively, the "Registration Statement") issued in connection with the Company's May 2019 initial public offering ("IPO" or the "Offering").

Yunji Accused of Misleading Investors in IPO

According to the complaint against the Company for alleged violations of the Securities Act of 1933 pursuant to its May 2019 IPO, Yunji completed its IPO on May 3, 2019, offering 11,217,447 American Depository Shares ("ADSs") at $11.00 per share and raising $108.97 million in proceeds. In its Registration Statement, Yunji touted the Company's supply chain management as a factor leading to its organic growth. However, Yunjji had failed to disclose that it was shifting certain sales to its marketplace platform, which was likely to disrupt its relationships with suppliers and adversely impact the Company's financial results. As a result, on August 22, 2019, Yunji finally revealed a year-over-year decrease in total revenues for second quarter 2019 due to its supply chain restructuring that shifted part of its merchandise sales to its marketplace platform. On this news, Yunji's share price fell $4.55, or nearly 46%, over the next 4 trading days to close at $6.05 per share on August 27, 2019. The stock currently trades at around $4.11, representing a 63% decline from its IPO price.

Yunji Sharehoders Urged to Contact the Firm

If you purchased Yunji securities, have information, or 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 Timothy L. Miles, Esquire, at 615-587-738, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number shares owned.

About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell® and ALM as a 2019 Top Rated Litigator and also as a 2019 Elite Lawyer of The South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Awards: 2019 Elite Lawyer of The South by Martindale-Hubbell® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV® Preeminent™ Rating by Martindale-Hubble® (2014-2019); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for 2017 & 2018 (Avvo).

Contact:

Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
124 Shiloh Ridge
Hendersonville, TN 37075
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com Website: www.timmileslaw.com

SOURCE: The Law Offices of Timothy L. Miles

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