{"id":399307,"date":"2020-12-14T14:08:51","date_gmt":"2020-12-14T19:08:51","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=399307"},"modified":"2020-12-14T14:08:51","modified_gmt":"2020-12-14T19:08:51","slug":"yy-investor-fraud-hagens-berman-national-trial-attorneys-alerts-joyy-inc-yy-investors-to-securities-fraud-class-action-encourages-investors-with-250k-losses-to-contact-its-attorneys","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/yy-investor-fraud-hagens-berman-national-trial-attorneys-alerts-joyy-inc-yy-investors-to-securities-fraud-class-action-encourages-investors-with-250k-losses-to-contact-its-attorneys\/","title":{"rendered":"YY INVESTOR FRAUD: Hagens Berman, National Trial Attorneys, Alerts JOYY Inc. (YY) Investors to Securities Fraud Class Action, Encourages Investors with $250k+ Losses to Contact Its Attorneys"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">SAN FRANCISCO, Dec.  14, 2020  (GLOBE NEWSWIRE) &#8212; Hagens Berman urges JOYY Inc. <strong>(NASDAQ: YY)<\/strong> investors with losses in excess of $250,000 to <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=FGxzunCZwyLOV6KE2zqH62JHsD-wI47d1U2ZhK3AGB3kjysA2a8uLwZiMcuGGifkUae9TAYr90pTa5KOz5PA4krBQuqca5mcKhS-CeKU59_Xr8ox7Zk_Bi5nMcQZsJwi\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">submit your losses now<\/a>. A securities fraud class action has been filed and certain investors may have valuable claims.<\/p>\n<p>\n        <strong>Class Period:<\/strong> Apr. 28, 2016 &#8211; Nov. 18, 2020<br \/><strong>Lead Plaintiff Deadline: <\/strong>Jan. 19, 2021<br \/><strong>Visit:<\/strong><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=K9HxsvrMb1IsKO_0FKJv76ZZe8vv8DJ3NIe-Ur-4VdX3r7tE6OXkWCFv7JUgWKVhCUUVjemU5HIwJotAmR7poJR4adliwCc8r8vkL1cyqLFYENzSmAoSvEl-qJmlos7P\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">hbsslaw.com\/investor-fraud\/JOYY<\/a><br \/><strong>Contact An Attorney Now:<\/strong><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=qL3mKz_Gq919slGFXFga-fqocUdrXkKwtA72v3b8P-Mi0l8FA-yMjjkmQuKpilYTggZuAksvJvtfujKVGDhkSQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">JOYY@hbsslaw.com<\/a><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<strong>844-916-0895<\/strong><\/p>\n<p>\n        <strong>JOYY Inc. (YY) Securities Fraud Class Action:<\/strong>\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\u2019s recent acquisition of Bigo was largely contrived to benefit corporate insiders, including JOYY\u2019s co-founder, CEO, and Chairman David Xueling Li, who set up Bigo.<\/p>\n<p>Investors began to learn the truth, according to the complaint, on Nov. 18, 2020 when research firm <em>Muddy Waters Capital <\/em>published a scathing forensic report, \u201cYY: You Can\u2019t Make This Stuff Up. Well . . . Actually You Can.\u201d <em>Muddy Waters<\/em> 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\u2019s valuation to secretly enrich Li when JOYY, in March 2019, paid over $1.4 billion 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 Nov. 18, 2020.<\/p>\n<p>\u201cWe\u2019re focused on investors\u2019 losses and proving JOYY deceived investors about the Company\u2019s true operations and financial results,\u201d said Reed Kathrein, the Hagens Berman partner leading the investigation.<br \/>If you are a JOYY investor and have significant losses, or have knowledge that may assist the firm\u2019s investigation, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=877vG5M9tboGXX3XNRlpWeG6p2zwo1zwG5AyLPzlEzKoDNey_WC6QiHbWBogWk_luMYJz40925i4AnXBaOjEOll5vKosKZ4g4-fswlJ-8-X3HEgIpV4YSlwnRmq5KRZbYXMl7Ya2N68lUWGWyUlY__yjHLiaglwiIeRJl23HhIc=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">click here to discuss your legal rights with Hagens Berman<\/a>.<\/p>\n<p>\n        <strong>Whistleblowers: <\/strong>Persons with non-public information regarding JOYY should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at <strong>844-916-0895<\/strong> or email <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=qL3mKz_Gq919slGFXFga-SKLGO4Wo1jUWQ0jL8ViV9dV65O6VHHf2xQGybPvmnWYQQv2VzxqrkhJPWFd-IT6nQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">JOYY@hbsslaw.com<\/a>.<\/p>\n<p>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=uOmVMoNfXoyeaZi2QmZ2fGg_kmq14bBQpZXKiz3QdAwoZY5pk43vdF6eu8GHhx100Wylh3PTk2lInL1YAjxHLNhPrpBHvHQtWdCij7VuKLQ=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><br \/>\n          <u>About Hagens Berman<\/u><br \/>\n        <\/a><br \/>\n        <br \/>Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=K9HxsvrMb1IsKO_0FKJv70uJc0h4LPELK5M6WfFAZPSzvrTt7XSpcdBozxrw55uPS5VmufG-J3uEGcRjLAsVXw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">hbsslaw.com<\/a>. For the latest news visit our <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=KS-40TLCRl8MYKNH5QTOa5UA59ub6YA4TfKw2jMxFIOvfxUPCSaSwduA9zp4IOJJuRiT1lkrfZCHIyhjnWH8xfi-S4KrM7SZJ8dbH36WKmU=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>newsroom<\/u><\/a> or follow us on Twitter at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=3i9D2bQjCsbnRgl1y3s6e-MuTK1KD77Hwx6aO1S7MVMpG9AsBAnrWHjJb2H6cEFwQE82sUP3WHuiqGkg4cOvtfZZc851BVXzaILHmCBouTk=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>@classactionlaw<\/u><\/a>.<\/p>\n<p>\n        <u>Contact:<\/u><br \/>\n        <br \/>Reed Kathrein, 844-916-0895\u00a0<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMTk2MSMzODgwNzcwIzIwMTg1MzI=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/4a604bbb-994b-49c5-b4c9-fa1dc4b7e5f1\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SAN FRANCISCO, Dec. 14, 2020 (GLOBE NEWSWIRE) &#8212; Hagens Berman urges JOYY Inc. (NASDAQ: YY) investors with losses in excess of $250,000 to submit your losses now. A securities fraud class action has been filed and certain investors may have valuable claims. Class Period: Apr. 28, 2016 &#8211; Nov. 18, 2020Lead Plaintiff Deadline: Jan. 19, 2021Visit:hbsslaw.com\/investor-fraud\/JOYYContact An Attorney Now:JOYY@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\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) &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/yy-investor-fraud-hagens-berman-national-trial-attorneys-alerts-joyy-inc-yy-investors-to-securities-fraud-class-action-encourages-investors-with-250k-losses-to-contact-its-attorneys\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;YY INVESTOR FRAUD: Hagens Berman, National Trial Attorneys, Alerts JOYY Inc. (YY) Investors to Securities Fraud Class Action, Encourages Investors with $250k+ Losses to Contact Its Attorneys&#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-399307","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>YY INVESTOR FRAUD: Hagens Berman, National Trial Attorneys, Alerts JOYY Inc. 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(YY) Investors to Securities Fraud Class Action, Encourages Investors with $250k+ Losses to Contact Its Attorneys - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SAN FRANCISCO, Dec. 14, 2020 (GLOBE NEWSWIRE) &#8212; Hagens Berman urges JOYY Inc. (NASDAQ: YY) investors with losses in excess of $250,000 to submit your losses now. A securities fraud class action has been filed and certain investors may have valuable claims. Class Period: Apr. 28, 2016 &#8211; Nov. 18, 2020Lead Plaintiff Deadline: Jan. 19, 2021Visit:hbsslaw.com\/investor-fraud\/JOYYContact An Attorney Now:JOYY@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\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) &hellip; Continue reading &quot;YY INVESTOR FRAUD: Hagens Berman, National Trial Attorneys, Alerts JOYY Inc. 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(YY) Investors to Securities Fraud Class Action, Encourages Investors with $250k+ Losses to Contact Its Attorneys - 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\/yy-investor-fraud-hagens-berman-national-trial-attorneys-alerts-joyy-inc-yy-investors-to-securities-fraud-class-action-encourages-investors-with-250k-losses-to-contact-its-attorneys\/","og_locale":"en_US","og_type":"article","og_title":"YY INVESTOR FRAUD: Hagens Berman, National Trial Attorneys, Alerts JOYY Inc. (YY) Investors to Securities Fraud Class Action, Encourages Investors with $250k+ Losses to Contact Its Attorneys - Market Newsdesk","og_description":"SAN FRANCISCO, Dec. 14, 2020 (GLOBE NEWSWIRE) &#8212; Hagens Berman urges JOYY Inc. (NASDAQ: YY) investors with losses in excess of $250,000 to submit your losses now. A securities fraud class action has been filed and certain investors may have valuable claims. Class Period: Apr. 28, 2016 &#8211; Nov. 18, 2020Lead Plaintiff Deadline: Jan. 19, 2021Visit:hbsslaw.com\/investor-fraud\/JOYYContact An Attorney Now:JOYY@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\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) &hellip; Continue reading \"YY INVESTOR FRAUD: Hagens Berman, National Trial Attorneys, Alerts JOYY Inc. (YY) Investors to Securities Fraud Class Action, Encourages Investors with $250k+ Losses to Contact Its Attorneys\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/yy-investor-fraud-hagens-berman-national-trial-attorneys-alerts-joyy-inc-yy-investors-to-securities-fraud-class-action-encourages-investors-with-250k-losses-to-contact-its-attorneys\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-14T19:08:51+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMTk2MSMzODgwNzcwIzIwMTg1MzI=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/yy-investor-fraud-hagens-berman-national-trial-attorneys-alerts-joyy-inc-yy-investors-to-securities-fraud-class-action-encourages-investors-with-250k-losses-to-contact-its-attorneys\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/yy-investor-fraud-hagens-berman-national-trial-attorneys-alerts-joyy-inc-yy-investors-to-securities-fraud-class-action-encourages-investors-with-250k-losses-to-contact-its-attorneys\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"YY INVESTOR FRAUD: Hagens Berman, National Trial Attorneys, Alerts JOYY Inc. 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