Los Angeles, California--(Newsfile Corp. - November 18, 2020) - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of JOYY Inc. ("JOYY" or "the Company") (NASDAQ: YY) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. JOYY is the subject of a report by Muddy Waters Research released on November 18, 2020. According to the report, titled "YY: You Can't Make This Stuff Up. Well…Actually You Can," the Company "is a multibillion-dollar fraud." The report states, "We conclude that YY's component businesses are a fraction of the size it reports, and that the company's reported user metrics, revenues, and cash balances are predominantly fraudulent," adding that "approximately 84% of YY's reported consolidated revenue appears to be fraudulent." Based on this news, shares of JOYY dropped by 26% on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
www.schallfirm.com
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