Missfresh Securities Settlement

JUAN CHEN, Individually and on Behalf of All Others Similarly Situated, Plaintiff,

vs.

MISSFRESH LIMITED, ZHENG XU, JUN WANG, ZHAOHUI LI, COLLEEN A. DE VRIES, HANSONG ZHU, J.P. MORGAN SECURITIES LLC, CITIGROUP GLOBAL MARKETS INC., CHINA INTERNATIONAL CAPITAL CORPORATION HONG KONG SECURITIES LIMITED, CHINA RENAISSANCE SECURITIES (HONG KONG) LIMITED, HAITONG INTERNATIONAL SECURITIES COMPANY LIMITED, CMB INTERNATIONAL CAPITAL LIMITED, AMTD GLOBAL MARKETS LIMITED, ICBC INTERNATIONAL SECURITIES LIMITED, NEEDHAM & COMPANY, LLC, CHINA MERCHANTS SECURITIES (HK) CO., LIMITED, ABCI SECURITIES COMPANY LIMITED, GF SECURITIES (HONG KONG) BROKERAGE LIMITED, FUTU INC., TIGER BROKERS (NZ) LIMITED, and COGENCY GLOBAL, INC., Defendants.

Case No. 1:22-cv-09836-JSR

United States District Court

Southern District of New York

This website has been established to provide general information regarding the proposed settlement (“Settlement”) of the class action (the "Action") known as Chen v. Missfresh Limited, et al., Case No. 22-cv-09836-JSR; the Court in charge of the Action is the United States District Court for the Southern District of New York. Capitalized terms used on this website and not otherwise defined shall have the same meanings ascribed to them in the Stipulation and Agreement of Settlement, dated June 12, 2024 (“Stipulation”).

Please be advised that your rights may be affected by the proceedings in the Action if you are a member of the Settlement Class, which includes the following:

All persons and entities who or which purchased or otherwise acquired Missfresh ADSs pursuant and/or traceable to the Offering Documents issued in connection with the ADSs initial public offering in June 2021, and were damaged thereby. 

The operative complaint in the Action alleges violations of Sections 11, 12(a)(2), and 15 of the Securities Act of 1933 relating to Missfresh's initial public offering of 24,150,000 American depositary shares ("ADSs") for $13.00 per ADS to the investing public on or about June 25, 2021. Settling Defendants have denied and continue to deny any and all allegations of wrongdoing or fault asserted in the Action. 

The Court did not finally decide in favor of Plaintiffs or the Settling Defendants.  Instead, both sides agreed to a settlement.  Plaintiffs and Co-Lead Counsel believe that the claims asserted in the Action have merit.  They recognize, however, the expense and length of continued proceedings needed to pursue the claims through trial and appeals, as well as the difficulties in establishing liability. In light of the guaranteed cash recovery to the Settlement Class, Plaintiffs and Co-Lead Counsel believe that the proposed Settlement is fair, reasonable, and adequate, and in the best interests of the Settlement Class.

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation. Please read the Notice carefully to fully understand your rights. 

Please do not call the Court with questions about the Settlement. All questions should be directed to Co-Lead Counsel or the Claims Administrator. 

The information on this website, including the dates and deadlines set forth below, is subject to change.  Please continue to check this website for updates.