So-Young International Inc. (SY)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of So-Young International Inc.
("So-Young" or "the Company") (NASDAQ: SY). The investigation concerns whether So-Young and certain of its officers and/or directors have violated federal securities laws.
On May 6, 2021, Blue Orca Capital published a report about So-Young stating “Lips can be fake. Financials shouldn’t be.” The report stated that Blue Orca’s “Data Scrape Shows Widespread Booking Fabrication on SY’s Platform[,]” and that Blue Orca “estimate[s] that SY exaggerates the bookings from these clinics by at least 4-5x during the period we monitored. We think this indicates, persuasively, that SY is inflating both the popularity of its platform and its reported revenues.” The report continued that “[l]ike SY’s booking revenues, we think the evidence shows that SY’s advertising revenues are largely inflated[,]” due in part to Blue Orca’s “data scrapping reveal[ing] that 24% of the clinics sold zero procedures on SY’s platform in 2020[,]” and “that over 50% of the clinics listed on the platform had 50 or fewer bookings.”
If you are aware of any facts relating to this investigation, or purchased So-Young shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.