Cloopen Group Holding

Cloopen Group Holding Ltd. provides cloud based communications solutions. It offers covering communications platform as a service (CpaaS), cloud based contact centers, and cloud based unified communications and collaborations. The company provides services to all sizes of industries, including Internet, telecommunications, financial services, education, industrial manufacturing, and energy. Cloopen Group Holding was founded by Chang Xun Sun on January 3, 2014 and is headquartered in Beijing, China.

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Commission declines to impose civil penalties because of company's self-reporting, cooperation and remediation Washington, D.C.--(Newsfile Corp. - February 6, 2024) - The Securities and Exchange Commission today announced settled accounting fraud charges against Cloopen Group Holding Limited, a China-based provider of cloud communications products and services whose American depositary shares formerly traded on the New York Stock Exchange.

SEC Charges China-Based Tech Company Cloopen Group with Accounting Fraud

BEIJING , May 18, 2023 /PRNewswire/ -- Cloopen Group Holding Limited (NYSE: RAAS) ("Cloopen" or the "Company") today announced that it received a notice from the New York Stock Exchange ("NYSE") regarding the commencement of delisting proceedings of the Company's American depositary shares (the "ADSs") on the basis that the ADSs are not suitable for listing due to the Company's failure to file with the Securities and Exchange Commission its annual reports on Form 20-F for the years ended December 31, 2021 and December 31, 2022 and current report on Form 6-K for the half year ended June 30, 2022 (collectively, the "Delayed Filings") by May 17, 2023, which is the maximum time allowed under Section 802.01E of the NYSE's Listed Company Manual. The NYSE suspended the trading in the ADSs on May 17, 2023.

Cloopen Receives Notice from the NYSE to Suspend Trading and Commence Delisting Proceedings

NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (“NYSE” or the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the American depositary shares (the “ADSs”) of Cloopen Group Holding Limited (the “Company”) ─ ticker symbol RAAS ─ from the NYSE. Trading in the Company's ADSs will be suspended immediately. NYSE Regulation reached its decision that the Company's ADSs are not suitable for listing, because the Company is a late filer.

NYSE to Suspend Trading in Cloopen Group Holding Limited (RAAS) and Commence Delisting Proceedings

Cloopen is unprofitable and in a horrible business. Cloopen was exposed to fraud.

Cloopen Is The Weirdest Buy Ever

BEIJING , April 4, 2023 /PRNewswire/ -- Cloopen Group Holding Limited (NYSE: RAAS) ("Cloopen" or the "Company") today announced that, based on a notification letter the Company received from the New York Stock Exchange (the "NYSE") on April 3, 2023, the Company has regained compliance with the NYSE's continued listing standard for minimum share price. On October 5, 2022, the NYSE notified the Company that it was not in compliance with the NYSE's continued listing standards because, as of October 4, 2022, the average closing price of the Company's American depositary shares (the "ADSs") was less than US$1.00 per ADS over a consecutive 30 trading-day period.

Cloopen Regains Compliance with NYSE Minimum Price Requirement

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BEIJING , March 3, 2023 /PRNewswire/ -- Cloopen Group Holding Limited (NYSE: RAAS) ("Cloopen" or the "Company") today announced that it will change the ratio of its American depositary shares ("ADSs") to Class A ordinary shares from one (1) ADS representing two (2) Class A ordinary shares to one (1) ADS representing six (6) Class A ordinary shares. For Cloopen's ADS holders, this ratio change will have the same effect as a 1-for-3 reverse ADS split.

Cloopen Announces ADS Ratio Change

BEIJING , Feb. 3, 2023 /PRNewswire/ -- Cloopen Group Holding Limited (NYSE: RAAS) ("Cloopen" or the "Company") today announced the appointment of HKCM CPA & Co ("HKCM") as the Company's independent registered public accounting firm to replace Yu Certified Public Accountant, P.C. ("Yu CPA"), effective February 3 , 2023.

Cloopen Announces the Appointment of HKCM as Independent Auditor

BEIJING , Nov. 18, 2022 /PRNewswire/ -- Cloopen Group Holding Limited (NYSE: RAAS) ("Cloopen" or the "Company") today announced that it received a letter from NYSE Regulation indicating that NYSE's Listings Operations Committee agreed to provide the Company with an additional trading period through May 17, 2023, subject to reassessment on an ongoing basis, to complete and file the Company's annual report on Form 20-F for the fiscal year ended December 31, 2021 (the "2021 Annual Report") with the U.S. Securities and Exchange Commission (the "SEC") and any subsequent delayed filings pursuant to the NYSE's late filer rules outlined in Section 802.01E of the NYSE Listed Company Manual. The Company has been in ongoing cooperation and correspondence with the NYSE on the late filing issue.

Cloopen Receives NYSE's Grant of Extension Regarding Delayed Filing of 2021 Annual Report

BEIJING , Nov. 1, 2022 /PRNewswire/ -- Cloopen Group Holding Limited (NYSE: RAAS) ("Cloopen" or the "Company") today announced that it received a letter from the New York Stock Exchange (the "NYSE") dated October 5, 2022, notifying the Company that it is below compliance standards due to the trading price of the Company's American depositary shares (the "ADSs") and that the applicable cure period for the Company to regain compliance expires on April 5, 2023. Pursuant to applicable NYSE continued listing standards, a company would be considered "below criteria" by the NYSE if the average closing price of a security as reported on the consolidated tape is less than US$1.00 over a consecutive 30 trading-day period.

Cloopen Receives NYSE Non-compliance Letter Regarding ADS Trading Price

BEIJING , Sept. 6, 2022 /PRNewswire/ -- Cloopen Group Holding Limited (NYSE: RAAS) ("Cloopen" or the "Company") today announced that the independent special committee of the Company's Board of Directors (the "Special Committee") has substantially completed its independent internal investigation (the "Independent Investigation") into the issues disclosed in the press release issued by the Company on May 3, 2022.

Cloopen Announces the Substantial Completion of the Independent Internal Investigation

BEIJING , July 19, 2022 /PRNewswire/ -- Cloopen Group Holding Limited (NYSE: RAAS) ("Cloopen" or the "Company") today announced the appointment of Yu Certified Public Accountant, P.C. ("Yu CPA") as the Company's independent registered public accounting firm, effective July 18, 2022.

Cloopen Announces the Appointment of Yu CPA as Independent Auditor

BEIJING , May 20, 2022 /PRNewswire/ -- Cloopen Group Holding Limited (NYSE: RAAS) ("Cloopen" or the "Company") today announced that, on May 18, 2022, it received a letter from the New York Stock Exchange (the "NYSE") notifying the Company that it is not in compliance with the NYSE's continued listing standards as a result of the Company's failure to timely file its annual report on Form 20-F for the fiscal year ended December 31, 2021 (the "2021 Annual Report"). The Company expects to file the 2021 Annual Report, upon (1) the outcome of the pending internal investigation as disclosed in the Company's current report on Form 6-K initially furnished to the U.S. Securities and Exchange Commission (the "SEC") on May 3, 2022, and (2) the completion of the audit of the Company's consolidated financial statements required to be included in the 2021 Annual Report.

Cloopen Receives Notification from NYSE Regarding Delayed Filing of 2021 Annual Report

BEIJING , May 18, 2022 /PRNewswire/ -- Cloopen Group Holding Limited (NYSE: RAAS) ("Cloopen" or the "Company") today announced changes in independent directors of the Company. The Company received a letter of resignation dated May 18, 2022 from Mr.

Cloopen Announces Changes in Independent Directors

BEIJING, May 3, 2022 /PRNewswire/ -- Cloopen Group Holding Limited (NYSE: RAAS) ("Cloopen" or the "Company") today announced that it has formed an independent special committee to investigate certain employee misconduct and transaction irregularities. The Company's Board of Directors (the "Board") has formed an independent special committee (the "Special Committee") to oversee an internal investigation of the issues that were raised to the Board's attention by KPMG Huazhen LLP ("KPMG") as discussed below (the "Independent Investigation").

Cloopen Announced Formation of Independent Special Committee for Internal Investigation

Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Cloopen To Contact Him Directly To Discuss Their OptionsNew York, New York--(Newsfile Corp. - February 11, 2022) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Cloopen Group Holding Limited ("Cloopen" or the "Company") (NYSE: RAAS) and reminds investors of the February 8, 2022 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. If you suffered losses exceeding $100,000 investing in Cloopen stock or...

Cloopen Update

Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Cloopen To Contact Him Directly To Discuss Their OptionsNew York, New York--(Newsfile Corp. - February 10, 2022) -  Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Cloopen Group Holding Limited ("Cloopen" or the "Company") (NYSE: RAAS) and reminds investors of the February 8, 2022 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. If you suffered losses exceeding $100,000 investing in Cloopen stock or...

Cloopen Class Action Reminder

Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Cloopen To Contact Him Directly To Discuss Their OptionsNew York, New York--(Newsfile Corp. - February 8, 2022) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Cloopen Group Holding Limited ("Cloopen" or the "Company") (NYSE: RAAS) and reminds investors of the February 8, 2022 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. If you suffered losses exceeding $100,000 investing in Cloopen stock...

Cloopen Shareholder Alert

Los Angeles, California--(Newsfile Corp. - February 8, 2022) - The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Cloopen Group Holding Limited ("Cloopen" or "the Company") (NYSE: RAAS) violations of the federal securities laws.Investors who purchased the Compa

Deadline Today Alert: The Schall Law Firm Encourages Investors in Cloopen Group Holding Limited with Losses of $100,000 to Contact the Firm

New York, New York--(Newsfile Corp. - February 8, 2022) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Cloopen Group Holding Limited (NYSE: RAAS): (i) pursuant and/or traceable to the registration statement and prospectus (collectively, the "Registration Statement") issued in connection with the Company's February 2021 initial public offering (the "IPO"); and/or (ii) between February 9, 2021 and May 10, 2021, inclusive (the "Class Period"), of the...

RAAS Final Deadline Today: Rosen, Trusted and Top Ranked Investor Counsel, Encourages Cloopen Group Holding Limited Investors with Losses to Secure Counsel Before Important February 8 Deadline in Securities Class Action - RAAS

New York, New York--(Newsfile Corp. - February 8, 2022) - Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Cloopen Group Holding Limited ("Cloopen " or the "Company") (NYSE: RAAS) and certain of its officers, on behalf of shareholders who (a) purchased or otherwise acquired Cloopen American Depositary Shares ("ADSs") pursuant and/or traceable to the registration statement and prospectus (collectively, the "Registration Statement") issued in connection with the...

RAAS Final Deadline: Bronstein, Gewirtz & Grossman, LLC Reminds Cloopen Group Holding Limited Investors With Losses Exceeding $200K of Class Action

NEW YORK, Feb. 8, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Cloopen Group Holding Limited (NYSE: RAAS) alleging that the Company violated federal securities laws. This lawsuit is on behalf of all persons who: (a) purchased or otherwise acquired Cloopen American Depositary Shares pursuant and/or traceable to the Company's February 2021 initial public offering; and/or (b) purchased or otherwise acquired Cloopen securities between February 9, 2021 and May 10, 2021.Lead Plaintiff Deadline: February 8, 2022 No obligation or cost to you.

RAAS ALERT: The Klein Law Firm Announces a Lead Plaintiff Deadline of February 8, 2022 in the Class Action Filed on Behalf of Cloopen Group Holding Limited Shareholders

Los Angeles, California--(Newsfile Corp. - February 7, 2022) - The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Cloopen Group Holding Limited ("Cloopen" or "the Company") (NYSE: RAAS) violations of the federal securities laws.Investors who purchased the Compa

Deadline Tomorrow Reminder: The Schall Law Firm Encourages Investors in Cloopen Group Holding Limited with Losses of $100,000 to Contact the Firm

New York, New York--(Newsfile Corp. - February 7, 2022) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Cloopen Group Holding Limited (NYSE: RAAS): (i) pursuant and/or traceable to the registration statement and prospectus (collectively, the "Registration Statement") issued in connection with the Company's February 2021 initial public offering (the "IPO"); and/or (ii) between February 9, 2021 and May 10, 2021, inclusive (the "Class Period"), of the important...

RAAS Final Deadline Tomorrow: Rosen, Globally Recognized Investor Counsel, Encourages Cloopen Group Holding Limited Investors with Losses to Secure Counsel Before Important February 8 Deadline in Securities Class Action - RAAS

NEW YORK , Feb. 7, 2022 /PRNewswire/ -- Attention Cloopen Group Holding Limited ("Cloopen") (NYSE: RAAS) shareholders: The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors. This lawsuit is on behalf of all persons who: (a) purchased or otherwise acquired Cloopen American Depositary Shares pursuant and/or traceable to the Company's February 2021 initial public offering; and/or (b) purchased or otherwise acquired Cloopen securities between February 9, 2021 and May 10, 2021.

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