Skadden obtained the dismissal of all claims in a putative securities class action filed against Yatsen Holding Limited, certain of its officers and directors, and the underwriters for its IPO. The plaintiffs alleged that various statements made in connection with Yatsen’s IPO and thereafter were misleading and failed to disclose negative trends in the performance of two of its brands, Perfect Diary and Little Ondine; its sales and marketing expenditures were not sustainable; it had insufficiently invested in research and development; and there were customer satisfaction issues regarding product quality. On July 22, 2024, Judge Dale Ho of the U.S. District Court for the Southern District of New York granted Skadden’s motion to dismiss all claims.
by Rohin Pujari
