The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Huazhu Group Ltd (NASDAQ: HTHT) who purchased shares between May 14, 2018 and August 28, 2018. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the Huazhu lawsuit alleges that (1) the Company lacked adequate security measures to protect customer information; (2) as a result of the foregoing, the Company would be susceptible to increased litigation risk and higher expenses; (3) as a result of the foregoing, the Company’s goodwill would potentially suffer, leading to lower revenues; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
Shareholders have until December 7, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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