{"id":385760,"date":"2020-11-19T19:30:22","date_gmt":"2020-11-20T00:30:22","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=385760"},"modified":"2020-11-19T19:30:22","modified_gmt":"2020-11-20T00:30:22","slug":"investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\/","title":{"rendered":"INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against JOYY, Inc."},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">NEW YORK, Nov.  19, 2020  (GLOBE NEWSWIRE) &#8212; The law firm of <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=f7v0p2-5imlaw8QegKPVW29dTciNsNYOfslhqhkbqiru-HjotH9G9B0vVkZn3-lUrAM_KWBXWwzoWzr3ZmD3oA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>Kirby McInerney LLP<\/u><\/a> is investigating potential claims against JOYY, Inc. (\u201cJOYY\u201d or the \u201cCompany\u201d) (NASDAQ: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Bfn9I9m1CcOeciTcoNXjS8GsxRlAS6IsBKxNqcD7_-IbnIVaIIRtOccVpvLMA97yxklovrzQjMfAdNThOUAvDjCpIgh7Jy4-tl10MYN_ueQ=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">YY<\/a>). The investigation focuses on whether the Company issued false and\/or misleading statements and\/or failed to disclose information pertinent to investors.<\/p>\n<p align=\"justify\">On November 18, 2020, Muddy Waters Research published a report entitled \u201cYY: You Can\u2019t Make This Stuff Up. Well\u2026Actually You Can,\u201d alleging that the Company \u201cis a multibillion-dollar fraud.\u201d The report concluded \u201cthat YY\u2019s component businesses are a fraction of the size it reports, and that the company\u2019s reported user metrics, revenues, and cash balances are predominantly fraudulent[,]\u201d and that \u201c[a]pproximately 84% of YY\u2019s reported consolidated revenue appears to be fraudulent.\u201d<\/p>\n<p align=\"justify\">On this news, JOYY American depositary shares (\u201cADSs\u201d) price fell $26.53 per ADS, or 26%, to close at $73.66 per ADS on November 18, 2020.<\/p>\n<p align=\"justify\">If you purchased or otherwise acquired JOYY securities, have information, or would like to learn more about these claims, please contact <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=KG7jGBsOeJfLVLa868SfHsZ-x0VzJn_IpuSlCsjn0JOQgeq2MvFkLAc8sWkwX-d5kBSfGl20nzYqlB_SfzghxORSyTF-rxg-0ZRzUJjueu4=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>Thomas W. Elrod<\/u><\/a> of <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=f7v0p2-5imlaw8QegKPVW0BM2XCR6nMJuJD_Ng5tE8ukw-ihIcCLxzc7--U5wDRmVTxCA0GPmAml5gagAJOyjQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>Kirby McInerney LLP<\/u><\/a> at 212-371-6600, by email at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=R8WwI3zNqAr42WVP_q2Jm-CiMIYsiOMf3DQ4LlmGKv8mPt4t9DhQ9PGjD7iovAkLlaBZe-7Cpmu_GoG3PXwK0lzGhxs5j8rgNM7m6YZ1R68=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>investigations@kmllp.com<\/u><\/a>, or by<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=unX5giwef1ebZEdCyPCT2Hj4FltUJ-tnEgQBsYP_SAwy_XQ7NpJTxdy0Q2KeX6i1AyqXOe20gwAVkYFJ0hnQh5Ygn7WQvbr59CZz7tyB4j87sPRtELfgddoaJNe33wzn\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"> filling out this <\/a><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=LwhMBEalUZU8p9lgrFtMHbDm8stm3Kwwv-eWiJgtrncdZ2XHHQN-rp1adW98RJ3e64pAdZjoVnmfmjuRwL9nK7FgPkRXHCsWB_xSNO2K-pc=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">contact form<\/a>, to discuss your rights or interests with respect to these matters without any cost to you.<\/p>\n<p align=\"justify\">\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=f7v0p2-5imlaw8QegKPVW_8Ee6qklTUk8XL2lB0SQgvBh4IEKA7gkOl77RUNhAFj4JhjWJGFd5ziLN1-nJZTSw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><br \/>\n          <u>Kirby McInerney LLP<\/u><br \/>\n        <\/a> is a New York-based plaintiffs\u2019 law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm\u2019s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP\u2019s website: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=leCdD85g7KMAfLcVtI-9hLuzK_7I4ZKueZPngFj2IJWP6eKDF9ZKivs-gT931xh_iqkXkEfRt4ucnt4WVr9AjQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>http:\/\/www.kmllp.com<\/u><\/a>.<\/p>\n<p align=\"justify\">This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n<p align=\"justify\">Contacts<br \/>Kirby McInerney LLP<br \/>Thomas W. Elrod, Esq.<br \/>212-371-6600<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=YqhFNqjrznx43kRwmEcmEsyVXzsdDX78xp-MDQI15R7NKD2eMuas9eAUKbcxsryfTMyYW-DiVYRoXSRl_HwpiIw-A2cLB-vX6QrR_LzwF3Y=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>https:\/\/www.kmllp.com<\/u><\/a><br \/><u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=R8WwI3zNqAr42WVP_q2Jm-CiMIYsiOMf3DQ4LlmGKv8sBltBy-4SF-qvreTs2SaHrGvN4VcFrRklpv7vE99XpEAzXSGnusd0h9JGb5Y4o5w=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">investigations@kmllp.com<\/a><\/u><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4OTY0MiMzODM2OTcyIzIwMjA2Njk=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/ef6c3d8a-d3af-4bb0-b62d-4ad5b2c5c290\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, Nov. 19, 2020 (GLOBE NEWSWIRE) &#8212; The law firm of Kirby McInerney LLP is investigating potential claims against JOYY, Inc. (\u201cJOYY\u201d or the \u201cCompany\u201d) (NASDAQ: YY). The investigation focuses on whether the Company issued false and\/or misleading statements and\/or failed to disclose information pertinent to investors. On November 18, 2020, Muddy Waters Research published a report entitled \u201cYY: You Can\u2019t Make This Stuff Up. Well\u2026Actually You Can,\u201d alleging that the Company \u201cis a multibillion-dollar fraud.\u201d The report concluded \u201cthat YY\u2019s component businesses are a fraction of the size it reports, and that the company\u2019s reported user metrics, revenues, and cash balances are predominantly fraudulent[,]\u201d and that \u201c[a]pproximately 84% of YY\u2019s reported consolidated revenue appears to be fraudulent.\u201d On &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against JOYY, Inc.&#8221;<\/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-385760","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against JOYY, Inc. - 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\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against JOYY, Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, Nov. 19, 2020 (GLOBE NEWSWIRE) &#8212; The law firm of Kirby McInerney LLP is investigating potential claims against JOYY, Inc. (\u201cJOYY\u201d or the \u201cCompany\u201d) (NASDAQ: YY). The investigation focuses on whether the Company issued false and\/or misleading statements and\/or failed to disclose information pertinent to investors. On November 18, 2020, Muddy Waters Research published a report entitled \u201cYY: You Can\u2019t Make This Stuff Up. Well\u2026Actually You Can,\u201d alleging that the Company \u201cis a multibillion-dollar fraud.\u201d The report concluded \u201cthat YY\u2019s component businesses are a fraction of the size it reports, and that the company\u2019s reported user metrics, revenues, and cash balances are predominantly fraudulent[,]\u201d and that \u201c[a]pproximately 84% of YY\u2019s reported consolidated revenue appears to be fraudulent.\u201d On &hellip; Continue reading &quot;INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against JOYY, Inc.&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-20T00:30:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4OTY0MiMzODM2OTcyIzIwMjA2Njk=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against JOYY, Inc.\",\"datePublished\":\"2020-11-20T00:30:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\\\/\"},\"wordCount\":304,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA4OTY0MiMzODM2OTcyIzIwMjA2Njk=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\\\/\",\"name\":\"INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against JOYY, Inc. - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\/","og_locale":"en_US","og_type":"article","og_title":"INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against JOYY, Inc. - Market Newsdesk","og_description":"NEW YORK, Nov. 19, 2020 (GLOBE NEWSWIRE) &#8212; The law firm of Kirby McInerney LLP is investigating potential claims against JOYY, Inc. (\u201cJOYY\u201d or the \u201cCompany\u201d) (NASDAQ: YY). The investigation focuses on whether the Company issued false and\/or misleading statements and\/or failed to disclose information pertinent to investors. On November 18, 2020, Muddy Waters Research published a report entitled \u201cYY: You Can\u2019t Make This Stuff Up. Well\u2026Actually You Can,\u201d alleging that the Company \u201cis a multibillion-dollar fraud.\u201d The report concluded \u201cthat YY\u2019s component businesses are a fraction of the size it reports, and that the company\u2019s reported user metrics, revenues, and cash balances are predominantly fraudulent[,]\u201d and that \u201c[a]pproximately 84% of YY\u2019s reported consolidated revenue appears to be fraudulent.\u201d On &hellip; Continue reading \"INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against JOYY, Inc.\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-20T00:30:22+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4OTY0MiMzODM2OTcyIzIwMjA2Njk=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against JOYY, Inc.","datePublished":"2020-11-20T00:30:22+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\/"},"wordCount":304,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4OTY0MiMzODM2OTcyIzIwMjA2Njk=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-joyy-inc\/","name":"INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against JOYY, Inc. - 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