PSFE, RVNC & RAAS – Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Actions and Lead Deadlines

NEW YORK, Jan. 13, 2022 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff.  Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. 

Paysafe Limited f/k/a Foley Trasimene Acquisition Corp. II (NYSE: PSFE, BFT)
Class Period: December 7, 2020 - November 10, 2021
Deadline: February 8, 2022
For more info: www.bgandg.com/psfe.                       
The complaint alleges that throughout the Class Period, Defendants made false and misleading statements and failed to disclose that: (1) Paysafe was being negatively impacted by gambling regulations in key European markets; (2) Paysafe was encountering performance challenges in its Digital Wallet segment; (3) new eCommerce customer agreements were being pushed back; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Revance Therapeutics, Inc. RVNC 
Class Period: November 25, 2019 - October 11, 2021,
Deadline: February 8, 2022
For more info: www.bgandg.com/rvnc.                       
The complaint alleges that throughout the Class Period, Defendants made false and misleading statements and failed to disclose that: (1) quality control deficiencies existed at the Company's manufacturing facility for DAXI; (2) the foregoing deficiencies decreased the likelihood that the FDA would approve the DAXI BLA in its current form; (3) accordingly, it was unlikely that the DAXI BLA would obtain FDA approval within the timeframe the Company had represented to investors; and (4) as a result, the Company's public statements were materially false and misleading at all relevant times.

Cloopen Group Holding Limited RAAS
Class Period: (a) purchased or otherwise acquired Cloopen American Depositary Shares ("ADSs") 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 (b) purchased or otherwise acquired Cloopen securities during the Class Period.
Deadline: February 8, 2022
For more info: www.bgandg.com/raas.
The Complaint alleges that the Registration Statement for the IPO was negligently prepared and, as a result, contained materially false and misleading statements of fact and failed to disclose facts required to be disclosed therein under the rules and regulations governing its preparation. Specifically, the Registration Statement: (2) led Cloopen ADS purchasers to believe that the Company's much-touted growth strategy, which relied upon cross-selling, up-selling, optimizing existing solutions, and developing new features, was effective. Indeed, as portrayed in the Registration Statement, Cloopen appeared to be retaining and even expanding its customer base, as well as maintaining its key sales metrics such as dollar-based net retention rate, which reflected its ability to increase existing customer revenue. In truth, Cloopen's growth strategy was not working, and its existing customers were abandoning the Company. Unbeknownst to investors, Cloopen's dollar based net retention rate had plummeted during the fourth quarter of 2020 ("4Q 2020"); (2) failed to disclose that an increasing number of its customers were refusing to pay, forcing the Company to record massive increases in its accounts receivables and allowance for doubtful accounts; and (iii) also failed to disclose that Cloopen was weighted down by massive liabilities related to the fair value of certain recently granted warrants.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | info@bgandg.com