{"id":408847,"date":"2021-01-05T13:47:25","date_gmt":"2021-01-05T18:47:25","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=408847"},"modified":"2021-01-05T13:47:25","modified_gmt":"2021-01-05T18:47:25","slug":"yy-stock-berger-montague-investigates-alleged-securities-fraud-claims-against-joyy-inc-nasdaq-yy-lead-plaintiff-deadline-is-january-19-2021-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/yy-stock-berger-montague-investigates-alleged-securities-fraud-claims-against-joyy-inc-nasdaq-yy-lead-plaintiff-deadline-is-january-19-2021-2\/","title":{"rendered":"YY Stock: Berger Montague Investigates Alleged Securities Fraud Claims Against JOYY, Inc. (NASDAQ: YY); Lead Plaintiff Deadline is January 19, 2021"},"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\">PHILADELPHIA<\/span>, <span class=\"xn-chron\">Jan. 5, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0Berger Montague is investigating potential securities fraud claims against JOYY, Inc. (&#8220;JOYY&#8221; or the &#8220;Company&#8221;) on behalf of investors who purchased JOYY securities (NASDAQ: YY) between <b><span class=\"xn-chron\">April 28, 2016<\/span> and <span class=\"xn-chron\">November 18, 2020<\/span><\/b> (the &#8220;Class Period&#8221;). <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/232479\/berger_montague.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/232479\/berger_montague.jpg\" title=\"A national class action and commercial litigation law firm with nationally known attorneys highly sought after for their legal skills. (PRNewsFoto\/Berger Montague)\" alt=\"A national class action and commercial litigation law firm with nationally known attorneys highly sought after for their legal skills. (PRNewsFoto\/Berger Montague)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>If you purchased JOYY securities during the Class Period, have questions concerning your rights or interests, or would like to discuss <span class=\"xn-person\">Berger Montague&#8217;s<\/span> investigation, please contact attorneys <span class=\"xn-person\">Andrew Abramowitz<\/span> at <a target=\"_blank\" href=\"mailto:aabramowitz@bm.net\" rel=\"nofollow noopener noreferrer\">aabramowitz@bm.net<\/a>\u00a0or (215) 875-3015, or <span class=\"xn-person\">Donnell Much<\/span> at <a target=\"_blank\" href=\"mailto:dmuch@bm.net\" rel=\"nofollow noopener noreferrer\">dmuch@bm.net<\/a>\u00a0or (215) 875-4667, or contact us at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3026587-1&amp;h=1548269665&amp;u=http%3A%2F%2Fwww.bergermontague.com%2Fjoyy&amp;a=www.bergermontague.com%2Fjoyy\" rel=\"nofollow noopener noreferrer\">www.bergermontague.com\/joyy<\/a>. \u00a0<\/p>\n<p>A recently filed lawsuit accuses JOYY and its senior management of failing to disclose to investors that the Company&#8217;s revenues were vastly overstated, that it was artificially inflating \u00a0the number of users on its platforms, and that the Company&#8217;s recent acquisition of Bigo Technology was effected to benefit corporate insiders, including JOYY&#8217;s co-founder and CEO.<\/p>\n<p>According to the complaint, a report published on <span class=\"xn-chron\">November 18, 2020<\/span> by research firm\u00a0Muddy Waters Capital\u00a0alerted the market to the truth about JOYY. The report accused JOYY of being &#8220;a multibillion-dollar fraud&#8221; and claimed that approximately 84% of its consolidated revenue was fraudulent. The extensive and highly detailed report also asserted, among many other things, that the Company overstated its revenues by using bots to create the appearance of traffic on its platforms and to conduct improper round-tripping transactions.<\/p>\n<p>Upon publication of the Muddy Waters report, the price of JOYY&#8217;s American Depositary Receipts (&#8220;ADRs&#8221;) fell <span class=\"xn-money\">$26.53<\/span> \u2013 or 26% \u2013 in a single day, from a closing price of <span class=\"xn-money\">$100.19<\/span> on <span class=\"xn-chron\">November 17, 2020<\/span> to a closing price of <span class=\"xn-money\">$73.66<\/span> on <span class=\"xn-chron\">November 18, 2020<\/span>. <\/p>\n<p>If you purchased JOYY securities, including ADRs, during the Class Period, you may seek Court appointment as lead plaintiff to represent other injured investors in a class action. The lead plaintiff appointment deadline is <b><span class=\"xn-chron\">January 19, 2021<\/span>.<\/b> You do not need to be a lead plaintiff to share in any potential Class recovery.<\/p>\n<p>\n        <b>Whistleblowers:\u00a0<\/b>Persons with non-public information regarding JOYY, Inc. are encouraged to confidentially assist <span class=\"xn-person\">Berger Montague&#8217;s<\/span> investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.<\/p>\n<p>\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3026587-1&amp;h=3104882177&amp;u=https%3A%2F%2Fbergermontague.com%2F&amp;a=Berger+Montague\" rel=\"nofollow noopener noreferrer\"><br \/>\n          <span class=\"xn-person\">Berger Montague<\/span><br \/>\n        <\/a>, with offices in <span class=\"xn-location\">Philadelphia<\/span>, <span class=\"xn-location\">Minneapolis<\/span>, <span class=\"xn-location\">Washington, D.C.<\/span>, and <span class=\"xn-location\">San Diego<\/span>, has been a pioneer in securities class action litigation since its founding in 1970. <span class=\"xn-person\">Berger Montague<\/span> has represented individual and institutional investors for five decades and serves as lead counsel in courts throughout <span class=\"xn-location\">the United States<\/span>.<\/p>\n<p>Contacts<\/p>\n<p>\n        <span class=\"xn-person\">Andrew Abramowitz<\/span>, Senior Counsel<br \/><span class=\"xn-person\">Berger Montague<\/span><br \/>(215) 875-3015<br \/><a target=\"_blank\" href=\"mailto:aabramowitz@bm.net\" rel=\"nofollow noopener noreferrer\">aabramowitz@bm.net<\/a>\u00a0\u00a0<\/p>\n<p>\n        <span class=\"xn-person\">Donnell Much<\/span>, Associate<br \/><span class=\"xn-person\">Berger Montague<\/span><br \/>(215) 875-4667<br \/><a target=\"_blank\" href=\"mailto:dmuch@bm.net\" rel=\"nofollow noopener noreferrer\">dmuch@bm.net<\/a><\/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=DC37874&amp;sd=2021-01-05\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/yy-stock-berger-montague-investigates-alleged-securities-fraud-claims-against-joyy-inc-nasdaq-yy-lead-plaintiff-deadline-is-january-19-2021-301201223.html\">http:\/\/www.prnewswire.com\/news-releases\/yy-stock-berger-montague-investigates-alleged-securities-fraud-claims-against-joyy-inc-nasdaq-yy-lead-plaintiff-deadline-is-january-19-2021-301201223.html<\/a><\/p>\n<p>SOURCE  <span class=\"xn-person\">Berger Montague<\/span><\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DC37874&amp;Transmission_Id=202101051344PR_NEWS_USPR_____DC37874&amp;DateId=20210105\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire PHILADELPHIA, Jan. 5, 2021 \/PRNewswire\/ &#8212;\u00a0Berger Montague is investigating potential securities fraud claims against JOYY, Inc. (&#8220;JOYY&#8221; or the &#8220;Company&#8221;) on behalf of investors who purchased JOYY securities (NASDAQ: YY) between April 28, 2016 and November 18, 2020 (the &#8220;Class Period&#8221;). If you purchased JOYY securities during the Class Period, have questions concerning your rights or interests, or would like to discuss Berger Montague&#8217;s investigation, please contact attorneys Andrew Abramowitz at aabramowitz@bm.net\u00a0or (215) 875-3015, or Donnell Much at dmuch@bm.net\u00a0or (215) 875-4667, or contact us at www.bergermontague.com\/joyy. \u00a0 A recently filed lawsuit accuses JOYY and its senior management of failing to disclose to investors that the Company&#8217;s revenues were vastly overstated, that it was artificially inflating \u00a0the number of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/yy-stock-berger-montague-investigates-alleged-securities-fraud-claims-against-joyy-inc-nasdaq-yy-lead-plaintiff-deadline-is-january-19-2021-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;YY Stock: Berger Montague Investigates Alleged Securities Fraud Claims Against JOYY, Inc. (NASDAQ: YY); Lead Plaintiff Deadline is January 19, 2021&#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-408847","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 Stock: Berger Montague Investigates Alleged Securities Fraud Claims Against JOYY, Inc. (NASDAQ: YY); Lead Plaintiff Deadline is January 19, 2021 - 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\/yy-stock-berger-montague-investigates-alleged-securities-fraud-claims-against-joyy-inc-nasdaq-yy-lead-plaintiff-deadline-is-january-19-2021-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"YY Stock: Berger Montague Investigates Alleged Securities Fraud Claims Against JOYY, Inc. (NASDAQ: YY); Lead Plaintiff Deadline is January 19, 2021 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire PHILADELPHIA, Jan. 5, 2021 \/PRNewswire\/ &#8212;\u00a0Berger Montague is investigating potential securities fraud claims against JOYY, Inc. (&#8220;JOYY&#8221; or the &#8220;Company&#8221;) on behalf of investors who purchased JOYY securities (NASDAQ: YY) between April 28, 2016 and November 18, 2020 (the &#8220;Class Period&#8221;). If you purchased JOYY securities during the Class Period, have questions concerning your rights or interests, or would like to discuss Berger Montague&#8217;s investigation, please contact attorneys Andrew Abramowitz at aabramowitz@bm.net\u00a0or (215) 875-3015, or Donnell Much at dmuch@bm.net\u00a0or (215) 875-4667, or contact us at www.bergermontague.com\/joyy. \u00a0 A recently filed lawsuit accuses JOYY and its senior management of failing to disclose to investors that the Company&#8217;s revenues were vastly overstated, that it was artificially inflating \u00a0the number of &hellip; Continue reading &quot;YY Stock: Berger Montague Investigates Alleged Securities Fraud Claims Against JOYY, Inc. 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(NASDAQ: YY); Lead Plaintiff Deadline is January 19, 2021 - 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-stock-berger-montague-investigates-alleged-securities-fraud-claims-against-joyy-inc-nasdaq-yy-lead-plaintiff-deadline-is-january-19-2021-2\/","og_locale":"en_US","og_type":"article","og_title":"YY Stock: Berger Montague Investigates Alleged Securities Fraud Claims Against JOYY, Inc. (NASDAQ: YY); Lead Plaintiff Deadline is January 19, 2021 - Market Newsdesk","og_description":"PR Newswire PHILADELPHIA, Jan. 5, 2021 \/PRNewswire\/ &#8212;\u00a0Berger Montague is investigating potential securities fraud claims against JOYY, Inc. (&#8220;JOYY&#8221; or the &#8220;Company&#8221;) on behalf of investors who purchased JOYY securities (NASDAQ: YY) between April 28, 2016 and November 18, 2020 (the &#8220;Class Period&#8221;). If you purchased JOYY securities during the Class Period, have questions concerning your rights or interests, or would like to discuss Berger Montague&#8217;s investigation, please contact attorneys Andrew Abramowitz at aabramowitz@bm.net\u00a0or (215) 875-3015, or Donnell Much at dmuch@bm.net\u00a0or (215) 875-4667, or contact us at www.bergermontague.com\/joyy. \u00a0 A recently filed lawsuit accuses JOYY and its senior management of failing to disclose to investors that the Company&#8217;s revenues were vastly overstated, that it was artificially inflating \u00a0the number of &hellip; Continue reading \"YY Stock: Berger Montague Investigates Alleged Securities Fraud Claims Against JOYY, Inc. 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