San Diego, CA -- (SBWIRE) -- 11/09/2023 -- Global Cord Blood Corporation are under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of Global Cord Blood Corporation (OTC: CORBF), 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 focuses on whether a series of statements by Global Cord Blood Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Hong Kong based Global Cord Blood Corporation, together with its subsidiaries, provides umbilical cord blood storage and ancillary services in the People's Republic of China. Global Cord Blood Corporation reported its Total Revenue rose from over $1.15 billion for the 12 months period that ended on March 31, 2021, to over $1.24 billion for the 12 months period that ended on March 31, 2022, and that its Net Income over those respective time periods declined from $508.24 million to $501.06 million.

On April 29, 2022, Global Cord Blood Corporation announced that the Company had "entered into a series of Stock Purchase Agreements, each dated April 29, 2022 (the "SPAs" and, collectively, the "SPA"), between the Company and the holders of approximately 95% of the outstanding shares of common stock (the "CLK Shares") of Cellenkos, Inc., a Delaware corporation ("Cellenkos") providing for the acquisition by the Company of such CLK Shares, subject to the satisfaction or waiver of customary closing conditions set forth in the SPA (including the entry of employment agreements with Dr. Simrit Parmar and Jackie Leong of Cellenkos and two to five year lockup agreements in customary form) in exchange for an aggregate of approximately 65.7 million of the Company's ordinary shares of US$0.0001 par value per share (the "Ordinary Shares") and units of the holding company partnership described below equivalent to an aggregate of 36,112,267 Ordinary Shares on a fully-diluted basis."

Then, on May 9, 2022, Global Cord Blood Corporation announced a major investor in many of Global Cord's Chinese subsidiaries, Blue Ocean Structure Investment Company Limited ("BVI"), "filed in the Grand Court of the Cayman Islands a notice of petition to wind up in respect of the issuer (the "Notice of Petition"). Among other things, the Notice of Petition primarily seeks an order that: (1) the issuer refrain from proceeding with a proposed transaction by which the issuer would acquire Cellenkos, Inc., as described in a Form 6-K filed by the Issuer on April 29, 2022 (the "Cellenkos Transaction"); (2) the issuer amend and restate its Memorandum and Articles of Association to eliminate the classification of the Board and to add shareholder protective provisions; and (3) the issuer convene an extraordinary general meeting to propose the removal of the current Board and the appointment of alternative directors proposed by [BVI]."

Those who purchased shares of Global Cord Blood Corporation (OTC: CORBF) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
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.