NEW YORK, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of JOYY Inc. (NASDAQ: YY) between April 28, 2016 and November 18, 2020, inclusive (the “Class Period”).
To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=joyy-inc&id=2491 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email info@zhanginvestorlaw.com for information on the class action.
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If you wish to serve as lead plaintiff, you must move the Court before the January 19, 2021 DEADLINE. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that; JOYY dramatically overstated its revenues from live streaming sources; the majority of users at any given time were bots; the Company utilized these bots to effect a roundtripping scheme that manufactured the false appearance of revenues; the Company overstated its cash reserves; the Company’s acquisition of Bigo was largely contrived to benefit corporate insiders; and as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Lead plaintiff status is not required to seek compensation. You may retain counsel of your choice. You may remain an absent class member and take no action at this time.
Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.
Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
info@zhanginvestorlaw.com
tel: (800) 991-3756
