NEW YORK, June 16, 2023 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of DouYu International Holdings Limited (NASDAQ: DOYU).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/douyu-class-action-loss-submission-form/?id=40894&from=4
The lawsuit seeks to recover losses for shareholders who purchased DouYu between April 30, 2021 and May 9, 2023.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until August 8, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, DouYu International Holdings Limited issued materially false and/or misleading statements and/or failed to disclose that: (1) the Chinese government, due to concerns about issues such as video game and computer addiction, as well as content challenging its authority, could become increasingly aggressive towards DouYu regardless of how effective or sincere its attempts to comply with Chinese law were; (2) this increasingly aggressive posture subjected DouYu to a heightened risk of an investigation and subsequent government enforcement action and ultimately resulted in enforcement action; and (3); as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
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New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
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SOURCE Jakubowitz Law
