Phoenix Tree (DNK) Alert: Johnson Fistel Investigates China Based Phoenix Tree Holdings; Investors Suffering Losses Encouraged to Contact Firm
SAN DIEGO- PRNewswire —April 16, 2020
Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by Phoenix Tree Holdings Limited (“Phoenix Tree ” or “the Company”) (NYSE: DNK). Phoenix Tree is a Cayman Islands holding company that leases and manages apartments in China, which it rents to tenants under the brands Danke Apartment and Dream Apartment.
On or about January 22, 2020, Phoenix Tree sold 9.6 million shares of stock in its initial public stock offering (the “IPO”), at $13.50 a share raising $130 million in new capital. However, since the IPO, Phoenix Tree stock has plummeted, on April 16, 2020, the stock closed at $7.35.
Specifically, Johnson Fistel’s investigation seeks to determine whether the Company’s filings with the U.S. Securities and Exchange Commission in connection with its January 2020 IPO and subsequent investor communications contained untrue statements of material facts or omitted to state other facts necessary to make the statements made therein not misleading concerning the Company’s business, and operations.
If you have information that could assist in this investigation, or if you are a Phoenix Tree shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP, is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.