Huazhu Group Limited (NASDAQ: HTHT) Investor Securities Class Action Lawsuit 10/08/2018

If you purchased shares of Huazhu Group Limited (NASDAQ: HTHT), you have certain options and for certain investors are short and strict deadlines running. Deadline: December 7, 2018. NASDAQ: HTHT investors should contact the Shareholders Foundation, INc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Huazhu Group
Case Name: 
Huazhu Group Shareholder Class Action Lawsuit 10/08/2018
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: HTHT
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
10/08/2018
Class Period Begin: 
05/14/2018
Class Period End: 
08/28/2018
Court of Filing: 
U.S. District Court for the Central District of California
Deadline To File for Lead: 
12/07/2018
Summary: 

An investor in shares of Huazhu Group Limited (NASDAQ: HTHT) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Huazhu Group Limited in connection with certain allegedly false and misleading statements made between May 14, 2018 and August 28, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Huazhu Group Limited (NASDAQ: HTHT) common shares between May 14, 2018 and August 28, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 14, 2018 and August 28, 2018, the Defendants failed to disclose to investors that the Company lacked adequate security measures to protect customer information, that, as a result of the foregoing, the Company would be susceptible to increased litigation risk and higher expenses, that, as a result of the foregoing, the Company’s goodwill would potentially suffer, leading to lower revenues, and that, 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.

China based Huazhu Group Limited, together with its subsidiaries, develops and operates leased and owned, manachised, and franchised hotels primarily in the People's Republic of China.

Huazhu Group Limited reported that its annual Total Revenue rose from over 6.53 billion CNY in 2016 to over 8.17 billion CNY in 2017 and that its Net Incoem increased from 804 million CNY in 2016 to over 1.23 billion CNY in 2017.

Shares of Huazhu Group Limited (NASDAQ: HTHT) reached as high as $49.60 per share in June 2018.

Then on August 29, 2018, media outlets reported that Shanghai police had been alerted to a possible client data breach at Huazhu Group Limited, stating that nearly 500 million pieces of customer-related information, including registration information, personal data, and booking records, had emerged in an online post.

Shares of Shares of Huazhu Group Limited (NASDAQ: HTHT) declined to as low as $30.51 per share on Setpember 7, 2018.