NEW YORK , Nov. 20, 2020 /PRNewswire/ -- Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of JOYY Inc., ("JOYY" or the "Company") (NASDAQ: YY) resulting from allegations that JOYY might have issued misleading information to the investing public.
If you purchased JOYY securities, and/or would like to discuss your legal rights and options please visit JOYY Shareholder Investigation or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com .
On November 18, 2020 , Muddy Waters Research, an equity research firm, published a report about JOYY titled: "YY: You Can't Make This Stuff Up. Well… Actually You Can." The Muddy Waters Research Report detailed a series of problems with JOYY. Specifically, the report stated that the Company is a multibillion-dollar fraud" whose component businesses are a "fraction of the size it reports." The Muddy waters report also noted that JOYY's "reported user metrics, revenues and cash balances are predominantly fraudulent."
On this news, JOYY American depositary shares ("ADSs") price fell $26.53 per ADS, or 26% to close at $73.66 per ADS on November 18, 2020 .
If you purchased JOYY securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/joyyinc-yy-shareholder-class-action-lawsuit-stock-fraud-334/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com .
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
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Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com
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SOURCE Bernstein Liebhard LLP