BOSTON, June 08, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that a securities class action has been filed against Phoenix Tree Holdings Ltd. (NYSE: DNK) and certain of its officers and directors. Investors who have lost money are encouraged to contact the firm for a free case evaluation. 

Phoenix Tree, a holding company that leases and manages apartments in China, held its initial public offering (“IPO”) for its American Depositary Shares (“ADS”) on January 22, 2020, in which it sold 9.6 million ADS at $13.50 each. The lawsuit, filed in the U.S. District Court for the Southern District of New York, alleges that the IPO materials misrepresented and/or failed to disclose the nature and level of renter complaints that Phoenix Tree had received before and as of the IPO, plus the Company’s exposure to significant adverse developments resulting from the onset of COVID-19 in China. The ADS are presently trading around $6.97 each, nearly half of their IPO price.

If you purchased or acquired Phoenix Tree ADS and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, via email at cases@blockesq.com, or at https://shareholder.law/phoenixtree. The deadline to move for appointment as lead plaintiff is June 26, 2020.

Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets.  The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States.  The firm’s lawyers have recovered billions of dollars for its clients.

This notice may constitute attorney advertising.

CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockesq.com
SOURCE: Block & Leviton LLP
www.blockesq.com

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