San Diego, CA -- (SBWire) -- 04/18/2022 --An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at First High-School Education Group Co., Ltd.
Investors who purchased shares of First High-School Education Group Co., Ltd. (NYSE: FHS) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain First High-School Education Group Co directors breached their fiduciary duties and caused damage to the company and its shareholders.
On or around March 11, 2021, First High-School Education Group Co., Ltd. conducted its initial public offering, issuing 7.5 million American depository shares ("ADSs") priced at $10.00 per ADS.
Then, on September 28, 2021, First High-School Education Group announced its first half of 2021 unaudited financial results, including, among other results, gross profit of RMB62.3 million (US$9.6 million), a decrease of 3.6% from RMB64.6 million in the first half of 2020; a net loss of RMB3.8 million (US$0.6 million), compared to a net income of RMB31.9 million in the first half of 2020, which was "primarily incurred by certain non-recurring expenses"; and adjusted net income (Non-GAAP) of RMB11.2 million (US$1.7 million), a decrease of 64.9% from RMB31.9 million in the first half of 2020.
Shares of First High-School Education Group Co., Ltd. (NYSE: FHS) declined to as low as $1.05 per share on March 15, 2022.
Those who purchased shares of First High-School Education Group Co., Ltd. (NYSE: FHS) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
First High-School Education Group Co., Ltd. (NYSE:FHS) Investor Alert: Investigation over Potential Wrongdoing
An investigation on behalf of investors in First High-School Education Group Co., Ltd. (NYSE:FHS) shares over potential wrongdoing at First High-School Education Group Co., Ltd. was announced.