{"id":379174,"date":"2020-11-11T21:40:18","date_gmt":"2020-11-12T02:40:18","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=379174"},"modified":"2020-11-11T21:40:18","modified_gmt":"2020-11-12T02:40:18","slug":"shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-yalla-group-limited-yala","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-yalla-group-limited-yala\/","title":{"rendered":"SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Yalla Group Limited – YALA"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n NEW YORK<\/span>, Nov. 11, 2020<\/span> \/PRNewswire\/ —\u00a0Pomerantz LLP is investigating claims on behalf of investors of\u00a0Yalla Group Limited\u00a0(“Yalla or the “Company”)\u00a0(NYSE:\u00a0YALA).\u00a0 Such investors are advised to contact Robert S. Willoughby<\/span> at newaction@pomlaw.com<\/a>\u00a0or 888-476-6529, ext. 7980.<\/p>\n

The investigation concerns whether Yalla and certain of its officers and\/or directors have engaged in securities fraud or other unlawful business practices.\u00a0 <\/p>\n

\n
\n [Click here for information about joining the class action]<\/b>
\n <\/a>\u00a0<\/p>\n

On or around September 30, 2020<\/span>, Yalla conducted its initial public offering (“IPO”), issuing 18.6 million American depositary shares (“ADSs”) priced at $7.50<\/span> per ADS.\u00a0 Then, on November 9, 2020<\/span>, post-market, Yalla issued a press release announcing its unaudited financial results for the third quarter of 2020.\u00a0 Among other results, Yalla reported GAAP EPS of –$0.43<\/span>, and costs and expenses of “$US64.7 million<\/span> . . . compared with US$8.6 million<\/span> in the same period last year.”\u00a0 Yalla stated that “[t]he increase was primarily due to the recognition of share-based compensation of US$46.5 million<\/span> upon our listing on the New York Stock Exchange on September 30, 2020<\/span>. \u00a0We granted a substantial amount of share options before the IPO but did not recognize any share-based compensation in prior periods because the exercisability of the options granted was conditional upon the completion of our IPO. \u00a0Upon our listing on the NYSE, we immediately recognized a substantial amount of share-based compensation expenses associated with all outstanding options that were vested as of September 30<\/span>, 2020.”\u00a0 <\/p>\n

On this news, Yalla’s ADS price fell $2.01<\/span> per ADS, or 17.43%, to close at $9.52<\/span> per ADS on November 10, 2020<\/span>.<\/p>\n

The Pomerantz Firm, with offices in New York<\/span>, Chicago<\/span>, Los Angeles<\/span>, and Paris<\/span> is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz<\/span>, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com<\/a>.<\/p>\n

\n CONTACT:
<\/b>
\n Robert S. Willoughby<\/span>
\n
Pomerantz LLP
rswilloughby@pomlaw.com<\/a>\u00a0
888-476-6529 ext. 7980<\/p>\n

\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-yalla-group-limited—yala-301171447.html<\/a><\/p>\n

SOURCE Pomerantz LLP<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire NEW YORK, Nov. 11, 2020 \/PRNewswire\/ —\u00a0Pomerantz LLP is investigating claims on behalf of investors of\u00a0Yalla Group Limited\u00a0(“Yalla or the “Company”)\u00a0(NYSE:\u00a0YALA).\u00a0 Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com\u00a0or 888-476-6529, ext. 7980. The investigation concerns whether Yalla and certain of its officers and\/or directors have engaged in securities fraud or other unlawful business practices.\u00a0 [Click here for information about joining the class action] \u00a0 On or around September 30, 2020, Yalla conducted its initial public offering (“IPO”), issuing 18.6 million American depositary shares (“ADSs”) priced at $7.50 per ADS.\u00a0 Then, on November 9, 2020, post-market, Yalla issued a press release announcing its unaudited financial results for the third quarter of 2020.\u00a0 Among other results, Yalla … <\/p>\n

Continue reading “SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Yalla Group Limited – YALA”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-379174","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Yalla Group Limited - YALA - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-yalla-group-limited-yala\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Yalla Group Limited - YALA - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire NEW YORK, Nov. 11, 2020 \/PRNewswire\/ —\u00a0Pomerantz LLP is investigating claims on behalf of investors of\u00a0Yalla Group Limited\u00a0(“Yalla or the “Company”)\u00a0(NYSE:\u00a0YALA).\u00a0 Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com\u00a0or 888-476-6529, ext. 7980. 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