WHY: New York, NY – 
(NewMediaWire) – January 21, 2022 – Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Cloopen Group Holding Limited (NYSE: RAAS): (i) pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s February 2021 initial public offering (the “IPO”); and/or (ii) between February 9, 2021 and May 10, 2021, inclusive (the “Class Period”), of the important February 8, 2022 lead plaintiff deadline.
WHAT TO DO NEXT: To join the Bright Health class action, go to http://www.rosenlegal.com/cases-register-2236.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.comor cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 7, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: The complaint alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Additionally, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that: (1) Bright Health had overstated its post-IPO business and financial prospects; (2) Bright Health was ill-equipped to handle the impact of COVID-19-related costs; (3) Bright Health was experiencing a decline in premium revenue because of a failure to capture risk adjustment on newly added lives; (4) all the foregoing was reasonably likely to have a material negative impact on Bright Health’s business and financial condition; and (5) as a result, the Offering Documents and Defendants’ public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein.
To join the Bright Health class action, go to http://www.rosenlegal.com/cases-register-2236.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.comor cases@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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