NEW YORK, Nov. 2, 2018 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Huazhu Group Limited ("Huazhu" or the "Company") (NASDAQ:HTHT) of the December 7, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Huazhu stock or options between May 14, 2018 and August 28, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/HTHT.  There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected]. 

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26^th Floor
New York, NY 10017
Attn:  Richard Gonnello, Esq.
[email protected]
Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased Huazhu securities between May 14, 2018 and August 28, 2018 (the "Class Period").  The case, Hayes v. Huazhu Group Ltd. et al, No. 2:18-cv-08633 was filed on October 8, 2018.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) the Company lacked adequate security measures to protect customer information; (2) as a result, the Company would be susceptible to increased litigation risk and higher expenses; and (3), as a result of the foregoing, the Company's goodwill would potentially suffer, leading to lower revenues.

Specifically, on August 28, 2018, Reuters reported that Chinese police had been alerted to a possible data breach by the Company and were investigating a possible leak of client information. Additionally, Xinhua reported that "nearly 500 million pieces of information related to the hotel group's customers" had been posted online.

On this news, Huazhu's share price fell from $35.53 per share on August 27, 2018 to a closing price of $33.98 on August 28, 2018—a $1.55 or a 4.36% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. 

Faruqi & Faruqi, LLP also encourages anyone with information regarding Huazhu's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

View original content to download multimedia:http://www.prnewswire.com/news-releases/huazhu-lead-plaintiff-deadline-alert-faruqi--faruqi-llp-encourages-investors-who-suffered-losses-exceeding-100-000-in-huazhu-group-limited-to-contact-the-firm-300743107.html

SOURCE Faruqi & Faruqi, LLP