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Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against So-Young International Inc. (NASDAQ: SY) on behalf of So-Young stockholders. Our investigation concerns whether So-Young has violated the federal securities laws and/or engaged in other unlawful business practices.
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On May 6, 2021, Blue Orca Capital published a report regarding 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 the Company "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 also noted 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 purchased or otherwise acquired So-Young shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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