WHY: New York, NY – 
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.
purchased Cloopen securities you may be entitled to compensation without
payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Cloopen class
action, go to http://www.rosenlegal.com/cases-register-2223.html
or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or 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 February 8,
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: According to the lawsuit, the Registration Statement was
false and misleading and defendants throughout the Class Period made false
and/or misleading statements and/or failed to disclose that: (1) Cloopen’s
growth strategy was not working; (2) Cloopen’s existing customers were
abandoning the Company; (3) an increasing number of Cloopen’s customers were
refusing to pay; (4) as a result, the Company was forced to record massive
increases in its accounts receivables and allowance for doubtful accounts; (5)
Cloopen was weighed down by huge liabilities related to the fair value of
certain recently-granted warrants; (6) defendants continued to misrepresent the
Company’s expansion strategy; and (7) Cloopen’s dollar-based net retention rate
had tumbled in 4Q 2020. When the true details entered the market, the lawsuit
claims that investors suffered damages.
To join the Cloopen class
action, go to http://www.rosenlegal.com/cases-register-2223.html
or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or 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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Attorney Advertising.
Prior results do not guarantee a similar outcome.
——————————-
Contact
Information:
Laurence
Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
View the original release on www.newmediawire.com