Global Cord Blood Corporation Faces Class Action Lawsuit

A class action lawsuit has been filed by Rosen Law Firm on behalf of purchasers of securities of Global Cord Blood Corporation (NYSE: CO) (OTC: CORBF) between June 4, 2019, and May 3, 2022. The lawsuit alleges that the company's executives misallocated funds, prioritizing insiders over shareholders. It further claims that decisions to reject buyout offers and engage in a billion-dollar acquisition were self-serving, diverting funds to corporate insiders.

The lawsuit asserts that Global Cord's public statements regarding capital allocation and strategic investments were misleading due to misappropriation of funds by company executives. When these details were revealed, investors allegedly suffered financial losses.

Investors who purchased Global Cord securities during the specified period may be entitled to compensation without upfront fees through a contingency fee arrangement. Those interested in joining the class action can contact Rosen Law Firm for more information.

It is important to note that no class has been certified yet, and investors are advised to select their legal representation or remain as absent class members. The outcome of the lawsuit is not dependent on serving as a lead plaintiff.

In conclusion, the lawsuit against Global Cord Blood Corporation highlights allegations of financial misconduct and misleading statements, potentially impacting investors who held securities during the specified period.