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ROSEN, A LEADING INVESTOR RIGHTS LAW FIRM, Continues to Investigate Securities Claims Against Huazhu Group Limited - HTHT

NEW YORK, Jan. 13, 2021 /PRNewswire/ --A Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Huazhu Group Limited (NASDAQ: HTHT) resulting from allegations that Huazhu may have issued materially misleading business information to the investing public.
ROSEN, A LEADING INVESTOR RIGHTS LAW FIRM, Continues to Investigate Securities Claims Against Huazhu Group Limited - HTHT
On September 21, 2020, Bonitas Research issued a report on the Company which alleged that Huazhu "lied about the ownership of its hotel portfolio to produce fake financials." The report also stated that Bonitas' fieldwork "confirmed that Huazhu secretly supported operating costs of franchisee hotels owned by undisclosed current Huazhu employees & other undisclosed related parties ('off-book hotels')." Bonitas further asserted that it "believe[s] that Huazhu concealed operating expenses using undisclosed related party transactions to artificially inflate Huazhu's reported profits[,]" and that it "calculate[s] that Huazhu's fake profits manifested as RMB 2 billion (US$ 300 million) of fake PP&E on its CYE'19 balance sheet."On this news, Huazhu's American Depositary Share ("ADS") price fell $1.54, or over 3%, to close at $40.48 per ADS on September 21, 2020, thereby injuring investors.Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Huazhu's investors. If you purchased ADSs of Huazhu, please visit the firm's website at https://www.rosenlegal.com/cases-register-1949.htmlA to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.
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