SAN DIEGO–(BUSINESS WIRE)–Shareholder rights law firm Robbins LLP announces that it filed a class action lawsuit on December 30, 2021, in the U.S. District Court for the Southern District of New York (the “Court”) on behalf of all persons who purchased or otherwise acquired KE Holdings, Inc. (“KE Holdings”) (NYSE: BEKE) securities between August 13, 2020 and December 16, 2021 (the “Class Period”) against the Company, its Chairman of the Board, and Executive Director, for among other things, violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and U.S. Securities and Exchange Commission Rule 10b-5, promulgated thereunder. The complaint seeks relief on behalf of the named plaintiff and all other similarly situated holders of KE Holdings’ ADSs during the Class Period. The named plaintiff is represented by Robbins LLP.
KE Holdings, Inc. Is Accused of Disseminating False and Misleading Information Regarding Transaction Volumes, Store Count and Agent Count, and Transaction Data
The action arises out of the Company’s misstatements materially overstating its store count, agent counsel, new home sales gross transaction value (“GTV”), and revenues. The complaint alleges that defendants made materially false and misleading statements and omissions, and engaged in a scheme to deceive the market. The truth began to come to light when Muddy Waters Capital LLC, a research based equity investor, revealed that KE Holdings was overstating the agents and stores on its platforms, its GTV, and its revenues, among other wrongdoing. These misstatements artificially inflated the price of KE Holdings’ ADSs and operated as a fraud or deceit on the Class. When the truth was revealed, the Company’s ADS price fell substantially and has continued falling since.
If you purchased or otherwise acquired KE Holdings ADSs between August 13, 2020 and December 16, 2021, and wish to serve as lead plaintiff, you have up to February 28, 2022, to ask the court to appoint you as the lead plaintiff for the class. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact attorney Aaron Dumas of Robbins LLP at (800) 350-6003, via the shareholder information form on our website, or by e-mail at email@example.com. Any member of the Class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent Class member. A copy of the complaint can be found here.
Robbins LLP, a nationally recognized leader in the area of shareholder rights litigation, represents individual and institutional investors in securities class action lawsuits and shareholder derivative actions. Robbins LLP has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Past results do not guarantee similar outcomes. For more information about the firm, please go to http://www.robbinsllp.com.