KE Holdings, Inc. is Accused of Disseminating False and Misleading Information Regarding Transaction Volumes, Store Count and Agent Count, and Transaction Data
Robbins LLP has filed a class action lawsuit 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 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 fall since.
If you purchased or otherwise acquired KE Holdings ADSs between August 13, 2020 and December 16, 2021, you have up to February 28, 2022, to ask the court to appoint you as the lead plaintiff for the class.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.