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Glancy Prongay & Murray LLP Files a Securities Class Action on Behalf of Huazhu Group Limited Investors (HTHT)

October 8, 2018

LOS ANGELES--(BUSINESS WIRE)--Oct 8, 2018--National law firm Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of persons and/or entities that acquired Huazhu Group Limited (“Huazhu” or the “Company”) (NASDAQ: HTHT ) securities between May 14, 2018 and August 28, 2018, inclusive (the “Class Period”). Plaintiff pursues claims against the Defendants, under the Securities Exchange Act of 1934.

Huazhu investors are hereby notified that they have 60 daysfrom the date of this notice to move the Court to serve as lead plaintiff in this action.

If you are a shareholder who suffered a loss, click  here to participate.

On August 28, 2018, media outlets reported that Chinese police were investigating a possible leak of client information from Huazhu, stating that nearly 500 million pieces of customer-related information, including registration information, personal data, and booking records, had emerged in an online post. On this news, the Company’s share price fell $1.55 per share, or approximately 4.36%, to close at $33.98 per share on August 28, 2018.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company lacked adequate security measures to protect customer information; (2) that, as a result of the foregoing, the Company would be susceptible to increased litigation risk and higher expenses; (3) that, as a result of the foregoing, the Company’s goodwill would potentially suffer, leading to lower revenues; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.

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If you purchased Huazhu securities during the Class Period, you may move the Court no later than  60 days from the date of this notice to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181008005825/en/

CONTACT: Glancy Prongay and Murray LLP, Los Angeles

Lesley Portnoy, 310-201-9150 or 888-773-9224

www.glancylaw.com

shareholders@glancylaw.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Glancy Prongay & Murray LLP

Copyright Business Wire 2018.

PUB: 10/08/2018 06:49 PM/DISC: 10/08/2018 06:49 PM

http://www.businesswire.com/news/home/20181008005825/en

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