{"id":387244,"date":"2020-11-23T17:17:06","date_gmt":"2020-11-23T22:17:06","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=387244"},"modified":"2020-11-23T17:17:06","modified_gmt":"2020-11-23T22:17:06","slug":"joyy-securities-fraud-hagens-berman-national-trial-attorneys-encourages-joyy-inc-yy-investors-with-250k-losses-to-contact-its-attorneys-now-securities-fraud-case-filed","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/joyy-securities-fraud-hagens-berman-national-trial-attorneys-encourages-joyy-inc-yy-investors-with-250k-losses-to-contact-its-attorneys-now-securities-fraud-case-filed\/","title":{"rendered":"JOYY SECURITIES FRAUD: Hagens Berman, National Trial Attorneys, Encourages JOYY Inc. (YY) Investors with $250k+ Losses to Contact Its Attorneys Now, Securities Fraud Case Filed"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">SAN FRANCISCO<\/span>, <span class=\"xn-chron\">Nov. 23, 2020<\/span> \/PRNewswire\/ &#8212;\u00a0Hagens Berman urges JOYY Inc. <b>(NASDAQ: YY)<\/b> investors with losses in excess of <span class=\"xn-money\">$250,000<\/span> to <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2991214-1&amp;h=200143573&amp;u=http%3A%2F%2Fwww.hbsslaw.com%2Finvestor-fraud%2FJOYY&amp;a=submit+your+losses+now\" rel=\"nofollow noopener noreferrer\">submit your losses now<\/a>.\u00a0 A securities fraud class action has been filed and certain investors may have valuable claims. <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/450112\/Hagens_Berman_Sobol_Shapiro_LLP_Logo.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/450112\/Hagens_Berman_Sobol_Shapiro_LLP_Logo.jpg\" title=\"Hagens Berman Sobol Shapiro LLP\" alt=\"Hagens Berman Sobol Shapiro LLP\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b>Class Period:<\/b>\u00a0Apr. 28, 2016 &#8211; <span class=\"xn-chron\">Nov. 18, 2020<\/span><br \/><b>Lead Plaintiff Deadline: <\/b><span class=\"xn-chron\">Jan. 19, 2021<\/span><br \/><b>Visit:<\/b>\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2991214-1&amp;h=310357640&amp;u=http%3A%2F%2Fwww.hbsslaw.com%2Finvestor-fraud%2FJOYY&amp;a=hbsslaw.com%2Finvestor-fraud%2FJOYY\" rel=\"nofollow noopener noreferrer\">hbsslaw.com\/investor-fraud\/JOYY<\/a>\u00a0<br \/><b>Contact An Attorney Now:<\/b>\u00a0<a target=\"_blank\" href=\"mailto:JOYY@hbsslaw.com\" rel=\"nofollow noopener noreferrer\">JOYY@hbsslaw.com<\/a>\u00a0<br \/>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<b>844-916-0895<\/b><\/p>\n<p>\n        <b>JOYY Inc. (YY) Securities Fraud Class Action: <\/b>\n      <\/p>\n<p>The complaint alleges that Defendants misrepresented and concealed that: (1) JOYY had dramatically overstated its revenues from live streaming sources; (2) the majority of users at any given time were bots; (3) the Company utilized these bots to effect a round-tripping scheme that manufactured the false appearance of revenues; (4) the Company overstated its cash reserves; and (5) the Company&#8217;s recent acquisition of Bigo was largely contrived to benefit corporate insiders, including JOYY&#8217;s co-founder, CEO, and Chairman <span class=\"xn-person\">David Xueling Li<\/span>, who set up Bigo.<\/p>\n<p>Investors began to learn the truth, according to the complaint, on <span class=\"xn-chron\">Nov. 18, 2020<\/span> when research firm <i>Muddy Waters Capital <\/i>published a scathing forensic report, &#8220;YY: You Can&#8217;t Make This Stuff Up.\u00a0 Well\u2026Actually You Can.&#8221;\u00a0 <i>Muddy Waters<\/i> accused JOYY of (1) being a multibillion-dollar fraud, (2) massively overstating reported revenues by engaging in improper round-tripping transactions, and (3) massively overstating Bigo-related revenues and Bigo&#8217;s valuation to secretly enrich Li when JOYY, in <span class=\"xn-chron\">March 2019<\/span>, paid over <span class=\"xn-money\">$1.4 billion<\/span> for the remaining 68.5% of Bigo that JOYY did not already own.<\/p>\n<p>This news sent the price of JOYY American Depositary Shares crashing lower on <span class=\"xn-chron\">Nov. 18, 2020<\/span>.<\/p>\n<p>&#8220;We&#8217;re focused on investors&#8217; losses and proving JOYY deceived investors about the Company&#8217;s true operations and financial results,&#8221; said <span class=\"xn-person\">Reed Kathrein<\/span>, the Hagens Berman partner leading the investigation. <\/p>\n<p>If you are a JOYY investor and have significant losses, or have knowledge that may assist the firm&#8217;s investigation, <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2991214-1&amp;h=4223304558&amp;u=http%3A%2F%2Fwww.hbsslaw.com%2Finvestor-fraud%2FJOYY&amp;a=click+here+to+discuss+your+legal+rights+with+Hagens+Berman\" rel=\"nofollow noopener noreferrer\">click here to discuss your legal rights with Hagens Berman<\/a>.<\/p>\n<p>\n        <b>Whistleblowers: <\/b>Persons with non-public information regarding JOYY should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. \u00a0Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. \u00a0For more information, call <span class=\"xn-person\">Reed Kathrein<\/span> at <b>844-916-0895<\/b> or email <a target=\"_blank\" href=\"mailto:JOYY@hbsslaw.com\" rel=\"nofollow noopener noreferrer\">JOYY@hbsslaw.com<\/a>.<\/p>\n<p>\n        <u><br \/>\n          <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2991214-1&amp;h=4240059926&amp;u=https%3A%2F%2Fwww.hbsslaw.com%2Fabout-us&amp;a=About+Hagens+Berman\" rel=\"nofollow noopener noreferrer\">About Hagens Berman<\/a><br \/>\n        <\/u><br \/>\n        <br \/>Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys.\u00a0 The firm represents investors, whistleblowers, workers and consumers in complex litigation.\u00a0 More about the firm and its successes is located at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2991214-1&amp;h=2443302621&amp;u=http%3A%2F%2Fwww.hbsslaw.com%2F&amp;a=hbsslaw.com\" rel=\"nofollow noopener noreferrer\">hbsslaw.com<\/a>. \u00a0For the latest news visit our <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2991214-1&amp;h=3484617055&amp;u=http%3A%2F%2Fwww.hbsslaw.com%2Fcases%2Fpressreleases&amp;a=newsroom\" rel=\"nofollow noopener noreferrer\">newsroom<\/a><\/u> or follow us on Twitter at <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2991214-1&amp;h=4180374235&amp;u=https%3A%2F%2Ftwitter.com%2Fclassactionlaw&amp;a=%40classactionlaw\" rel=\"nofollow noopener noreferrer\">@classactionlaw<\/a><\/u>.<\/p>\n<p>\n        <u>Contact: <br \/><\/u><br \/>\n        <span class=\"xn-person\">Reed Kathrein<\/span>, 844-916-0895<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DC01424&amp;sd=2020-11-23\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/joyy-securities-fraud-hagens-berman-national-trial-attorneys-encourages-joyy-inc-yy-investors-with-250k-losses-to-contact-its-attorneys-now-securities-fraud-case-filed-301179179.html\">http:\/\/www.prnewswire.com\/news-releases\/joyy-securities-fraud-hagens-berman-national-trial-attorneys-encourages-joyy-inc-yy-investors-with-250k-losses-to-contact-its-attorneys-now-securities-fraud-case-filed-301179179.html<\/a><\/p>\n<p>SOURCE  Hagens Berman Sobol Shapiro LLP<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DC01424&amp;Transmission_Id=202011231714PR_NEWS_USPR_____DC01424&amp;DateId=20201123\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire SAN FRANCISCO, Nov. 23, 2020 \/PRNewswire\/ &#8212;\u00a0Hagens Berman urges JOYY Inc. (NASDAQ: YY) investors with losses in excess of $250,000 to submit your losses now.\u00a0 A securities fraud class action has been filed and certain investors may have valuable claims. Class Period:\u00a0Apr. 28, 2016 &#8211; Nov. 18, 2020Lead Plaintiff Deadline: Jan. 19, 2021Visit:\u00a0hbsslaw.com\/investor-fraud\/JOYY\u00a0Contact An Attorney Now:\u00a0JOYY@hbsslaw.com\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0844-916-0895 JOYY Inc. (YY) Securities Fraud Class Action: The complaint alleges that Defendants misrepresented and concealed that: (1) JOYY had dramatically overstated its revenues from live streaming sources; (2) the majority of users at any given time were bots; (3) the Company utilized these bots to effect a round-tripping scheme that manufactured the false appearance of revenues; (4) the Company overstated its cash &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/joyy-securities-fraud-hagens-berman-national-trial-attorneys-encourages-joyy-inc-yy-investors-with-250k-losses-to-contact-its-attorneys-now-securities-fraud-case-filed\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;JOYY SECURITIES FRAUD: Hagens Berman, National Trial Attorneys, Encourages JOYY Inc. (YY) Investors with $250k+ Losses to Contact Its Attorneys Now, Securities Fraud Case Filed&#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-387244","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>JOYY SECURITIES FRAUD: Hagens Berman, National Trial Attorneys, Encourages JOYY Inc. (YY) Investors with $250k+ Losses to Contact Its Attorneys Now, Securities Fraud Case Filed - 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\/joyy-securities-fraud-hagens-berman-national-trial-attorneys-encourages-joyy-inc-yy-investors-with-250k-losses-to-contact-its-attorneys-now-securities-fraud-case-filed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JOYY SECURITIES FRAUD: Hagens Berman, National Trial Attorneys, Encourages JOYY Inc. (YY) Investors with $250k+ Losses to Contact Its Attorneys Now, Securities Fraud Case Filed - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire SAN FRANCISCO, Nov. 23, 2020 \/PRNewswire\/ &#8212;\u00a0Hagens Berman urges JOYY Inc. (NASDAQ: YY) investors with losses in excess of $250,000 to submit your losses now.\u00a0 A securities fraud class action has been filed and certain investors may have valuable claims. Class Period:\u00a0Apr. 28, 2016 &#8211; Nov. 18, 2020Lead Plaintiff Deadline: Jan. 19, 2021Visit:\u00a0hbsslaw.com\/investor-fraud\/JOYY\u00a0Contact An Attorney Now:\u00a0JOYY@hbsslaw.com\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0844-916-0895 JOYY Inc. (YY) Securities Fraud Class Action: The complaint alleges that Defendants misrepresented and concealed that: (1) JOYY had dramatically overstated its revenues from live streaming sources; (2) the majority of users at any given time were bots; (3) the Company utilized these bots to effect a round-tripping scheme that manufactured the false appearance of revenues; (4) the Company overstated its cash &hellip; Continue reading &quot;JOYY SECURITIES FRAUD: Hagens Berman, National Trial Attorneys, Encourages JOYY Inc. 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(YY) Investors with $250k+ Losses to Contact Its Attorneys Now, Securities Fraud Case Filed - 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\/joyy-securities-fraud-hagens-berman-national-trial-attorneys-encourages-joyy-inc-yy-investors-with-250k-losses-to-contact-its-attorneys-now-securities-fraud-case-filed\/","og_locale":"en_US","og_type":"article","og_title":"JOYY SECURITIES FRAUD: Hagens Berman, National Trial Attorneys, Encourages JOYY Inc. (YY) Investors with $250k+ Losses to Contact Its Attorneys Now, Securities Fraud Case Filed - Market Newsdesk","og_description":"PR Newswire SAN FRANCISCO, Nov. 23, 2020 \/PRNewswire\/ &#8212;\u00a0Hagens Berman urges JOYY Inc. (NASDAQ: YY) investors with losses in excess of $250,000 to submit your losses now.\u00a0 A securities fraud class action has been filed and certain investors may have valuable claims. Class Period:\u00a0Apr. 28, 2016 &#8211; Nov. 18, 2020Lead Plaintiff Deadline: Jan. 19, 2021Visit:\u00a0hbsslaw.com\/investor-fraud\/JOYY\u00a0Contact An Attorney Now:\u00a0JOYY@hbsslaw.com\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0844-916-0895 JOYY Inc. (YY) Securities Fraud Class Action: The complaint alleges that Defendants misrepresented and concealed that: (1) JOYY had dramatically overstated its revenues from live streaming sources; (2) the majority of users at any given time were bots; (3) the Company utilized these bots to effect a round-tripping scheme that manufactured the false appearance of revenues; (4) the Company overstated its cash &hellip; Continue reading \"JOYY SECURITIES FRAUD: Hagens Berman, National Trial Attorneys, Encourages JOYY Inc. 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