{"id":404646,"date":"2020-12-22T11:22:28","date_gmt":"2020-12-22T16:22:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=404646"},"modified":"2020-12-22T11:22:28","modified_gmt":"2020-12-22T16:22:28","slug":"january-19-2021-filing-deadline-in-joyy-shareholder-class-action-contact-lieff-cabraser","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/january-19-2021-filing-deadline-in-joyy-shareholder-class-action-contact-lieff-cabraser\/","title":{"rendered":"January 19, 2021 Filing Deadline in JOYY Shareholder Class Action \u2013 Contact Lieff Cabraser"},"content":{"rendered":"

<\/p>\n

January 19, 2021 Filing Deadline in JOYY Shareholder Class Action \u2013 Contact Lieff Cabraser<\/b><\/p>\n

SAN FRANCISCO–(BUSINESS WIRE<\/a>)–
\nThe law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been filed on behalf of investors who purchased or otherwise acquired publicly traded securities of JOYY Inc. (\u201cJOYY\u201d or \u201cthe \u201cCompany\u201d) (NASDAQ: YY) between April 28, 2016 and November 18, 2020<\/b>, inclusive (the \u201cClass Period\u201d). If you purchased or otherwise acquired JOYY securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than January 19, 2021<\/b>. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the actions will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.\n<\/p>\n

JOYY investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff should click here<\/a><\/b> or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.\n<\/p>\n

Background on the JOYY Class Litigation<\/span><\/p>\n

\nJOYY, headquartered in Guangzhou, China, describes itself as a global social media platform, offering users around the world a uniquely engaging and immersive experience across various video-based content categories, such as live streaming, short-form videos and video communication. The Company was formerly known as YY, Inc. and changed its name to JOYY, Inc. on December 20, 2019.\n<\/p>\n

\nThe action alleges that, during the Class Period, defendants misrepresented and\/or failed to disclose that: (1) JOYY overstated its revenues from live streaming sources; (2) the majority of users were bots; (3) the Company utilized these bots to effect a round-tripping scheme that manufactured the appearance of revenues; (4) the Company overstated its cash reserves; and (5) the Company\u2019s acquisition of Bigo was designed to benefit corporate insiders.\n<\/p>\n

\nOn November 18, 2020, Muddy Waters Capital (\u201cMuddy Waters\u201d) published a report entitled \u201cYY: You Can\u2019t Make this Stuff Up. Well\u2026Actually You Can.\u201d According to the report, JOYY was \u201ca multibillion-dollar fraud\u201d with \u201ccomponent businesses . . . a fraction of the size it reports, and . . . reported user metrics, revenues, and cash balances [that] are predominantly fraudulent.\u201d Citing a \u201cyear-long investigation,\u201d Muddy Waters concluded that JOYY \u201cis about 90% fraudulent.\u201d Following this news, the price of JOYY\u2019s American Depositary Receipts (\u201cADR\u201d) fell $26.53 per ADR, or 26.48%, to close at $73.66 per ADR on November 18, 2020.\n<\/p>\n

About Lieff Cabraser<\/b><\/p>\n

\nLieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Munich, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.\n<\/p>\n

The National Law Journal<\/i> has recognized Lieff Cabraser as one of the nation\u2019s top plaintiffs\u2019 law firms for fourteen years. In compiling the list, the National Law Journal<\/i> examines recent verdicts and settlements and looked for firms \u201crepresenting the best qualities of the plaintiffs\u2019 bar and that demonstrated unusual dedication and creativity.\u201d Law360<\/i> has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm\u2019s \u201claser focus\u201d and noting that our firm routinely finds itself \u201cfacing off against some of the largest and strongest defense law firms in the world.\u201d Benchmark Litigation<\/i> has named Lieff Cabraser one of the \u201cTop 10 Plaintiffs\u2019 Firms in America.\u201d\n<\/p>\n

\nFor more information about Lieff Cabraser and the firm\u2019s representation of investors, please visit https:\/\/www.lieffcabraser.com\/<\/a>.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201222005521\/en\/<\/a><\/span><\/p>\n

Source\/Contact for Media Inquiries Only
\n<\/b>
Sharon M. Lee
\n
Lieff Cabraser Heimann & Bernstein, LLP
\n
Telephone: 1-800-541-7358\n<\/p>\n

KEYWORDS:<\/b> California United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

January 19, 2021 Filing Deadline in JOYY Shareholder Class Action \u2013 Contact Lieff Cabraser SAN FRANCISCO–(BUSINESS WIRE)– The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been filed on behalf of investors who purchased or otherwise acquired publicly traded securities of JOYY Inc. (\u201cJOYY\u201d or \u201cthe \u201cCompany\u201d) (NASDAQ: YY) between April 28, 2016 and November 18, 2020, inclusive (the \u201cClass Period\u201d). If you purchased or otherwise acquired JOYY securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than January 19, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any … <\/p>\n

Continue reading “January 19, 2021 Filing Deadline in JOYY Shareholder Class Action \u2013 Contact Lieff Cabraser”<\/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-404646","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nJanuary 19, 2021 Filing Deadline in JOYY Shareholder Class Action \u2013 Contact Lieff Cabraser - 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\/january-19-2021-filing-deadline-in-joyy-shareholder-class-action-contact-lieff-cabraser\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"January 19, 2021 Filing Deadline in JOYY Shareholder Class Action \u2013 Contact Lieff Cabraser - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"January 19, 2021 Filing Deadline in JOYY Shareholder Class Action \u2013 Contact Lieff Cabraser SAN FRANCISCO–(BUSINESS WIRE)– The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been filed on behalf of investors who purchased or otherwise acquired publicly traded securities of JOYY Inc. (\u201cJOYY\u201d or \u201cthe \u201cCompany\u201d) (NASDAQ: YY) between April 28, 2016 and November 18, 2020, inclusive (the \u201cClass Period\u201d). If you purchased or otherwise acquired JOYY securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than January 19, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. 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