Poly-Mei products will be subject to class action: Due to the publication of false misleading statements

Poly Beauty products will be the collective Action Phoenix Science and Technology, Beijing time December 16 news, the United States law firm MILBERG,LLP Monday announced that is investigating Poly-Mei Excellent products (Nyse:,jmei), and representatives from May 16, 2014 to November 19, 2014 (Collective action period) Investors who bought Poly-American ads (US depository shares) launched a class-action lawsuit against the United States in the Eastern District Court of New York. According to the lawsuit, in the collective action period, the United States and some officials in violation of the federal securities law, to public investors to disseminate false and misleading statements. Specifically, the United States excellent products issued false, misleading statements and/or non-disclosure of the following information: (1) Poly-Mei products to change its revenue model, that is, from market services to commodity sales; (2) This transformation poses great risks to the previous successful financial performance of Poly-Mei Products; (3) and, Poly-American products have not been promised to expand market services. According to the lawsuit, after these adverse facts were learned by the market, the value of poly-Mei excellent stock fell, hurting investors ' interests. The stock price of poly-Mei products fell from the high value of $39.45 from August 18, 2014 to the 12.87 dollar low of December 11, 2014. (Compiling/Xiao Yu)