An investigation on behalf of investors in Cloopen Group Holding Limited (NYSE:RAAS) shares over potential wrongdoing at Cloopen Group Holding Limited was announced.

San Diego, CA -- (SBWire) -- 07/01/2021 --Certain directors of Cloopen Group Holding Limited are under investigation over potential breaches of fiduciary duties.

Investors who purchased shares of Cloopen Group Holding Limited (NYSE: RAAS) 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 Cloopen Group Holding directors breached their fiduciary duties and caused damage to the company and its shareholders.

China based Cloopen Group Holding Limited, through its subsidiaries, provides cloud-based communications solutions in the People's Republic of China. Cloopen Group Holding Limited reported that its annual Total Revenue rose from over 650.28 million CNY in 2019 to 767.68 million CNY in 2020, and that its Net Loss increased from 183.49 million CNY in 2019 to 499.84 million CNY in 2020

Cloopen Group Holding Limited conducted its initial public stock offering (the "IPO") in February 2021. Cloopen Group Holding Limited sold 20 million ADS at $16.00 per share, for a total offering size of $320 million. Since then NYSE: RAAS shares declined to as low as $8.79 per share on May 11, 2021.

Those who purchased shares of Cloopen Group Holding Limited (NYSE: RAAS) 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 Shareholders Foundation, Inc.
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.