Given defendants' disclosure that defendant Ruhnn was shifting to a "platform" model for its online sales and away from the self-owned, "full service" model, the omission of data from the period immediately preceding the issuance of the final prospectus showing that there had already been a reduction in the full service segment of the company did not "significantly alter[] the `total mix' of information made available" to a reasonable
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JIANMING LYU v. RUHNN HOLDINGS LTD.
Index No. 655420/19. Appeal No. 12553. Case No. 2020-02555.
189 A.D.3d 441 (2020)
137 N.Y.S.3d 322
2020 NY Slip Op 07282
Jianming Lyu, Respondent, v. Ruhnn Holdings Limited et al., Appellants, et al., Defendants.
Appellate Division of the Supreme Court of New York, First Department.https://leagle.com/images/logo.png
Decided December 3, 2020.
Decided December 3, 2020.
Attorney(s) appearing for the Case
Simpson Thacher & Bartlett LLP, New York ( George S. Wang of counsel), for Ruhnn Holdings Limited and Xiaocao XU, appellants.
Skadden, Arps, Slate, Meagher & Flom LLP, New York ( Scott D. Musoff of counsel), for Citigroup Global Markets Inc. and UBS Securities LLC, appellants.
Robbins Geller Rudman & Dowd LLP, San Diego, CA ( Joseph D. Daley of the bar of the State of California, admitted pro hac vice, of counsel), and Robbins Geller Rudman & Dowd LLP, Melville ( William J. Geddish , of the bar of the State of California, admitted pro hac vice, of counsel), for respondent.
Concur—Friedman, J.P., Kapnick, Gesmer, Kern, Shulman, JJ.
Appellate Division of the Supreme Court of New York, First Department.
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