{"id":415880,"date":"2021-01-15T12:03:25","date_gmt":"2021-01-15T17:03:25","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=415880"},"modified":"2021-01-15T12:03:25","modified_gmt":"2021-01-15T17:03:25","slug":"deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-joyy-inc-yy-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-joyy-inc-yy-2\/","title":{"rendered":"Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against JOYY Inc. (YY)"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">BENSALEM, Pa., Jan.  15, 2021  (GLOBE NEWSWIRE) &#8212; Law Offices of Howard G. Smith reminds investors of the upcoming <strong>January 19, 2021 <\/strong>deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased JOYY Inc. (\u201cJOYY\u201d or the \u201cCompany\u201d) (NASDAQ: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=XuIxiXfq6NpbCnh48D8fQd9YN0AaE7Nst7snuSxe_f4LDd4D6M5d-UkvlQl1SyFTE84fSUHFW28jlmd_yIi7_A==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">YY<\/a>) securities between <strong>April 28, 2016 and November 18, 2020<\/strong>, inclusive (the \u201cClass Period\u201d).<\/p>\n<p align=\"justify\">Investors suffering losses on their JOYY investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=CGklNQ-eOsV4latOYrDZMmVmq3-H0pcJ1ra355iotfVdqwgJ8GhFWwOC_yHDBiraXC8YsFtgyhClP_6Bt7sHhQkVhsiKlBcvDjChkMkTKRIPdzlkl-2kAszQNc0Yo17g\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">howardsmith@howardsmithlaw.com<\/a>.<\/p>\n<p align=\"justify\">On November 18, 2020, Muddy Waters Research published a report entitled &#8220;YY: You Can&#8217;t Make This Stuff Up. Well\u2026Actually You Can,\u201d alleging that the Company &#8220;is a multibillion-dollar fraud.&#8221; The report concluded \u201cthat YY&#8217;s component businesses are a fraction of the size it reports, and that the company&#8217;s reported user metrics, revenues, and cash balances are predominantly fraudulent[,]&#8221; and that &#8220;[a]pproximately 84% of YY&#8217;s reported consolidated revenue appears to be fraudulent.&#8221;<\/p>\n<p align=\"justify\">On this news, JOYY American depositary shares (&#8220;ADSs&#8221;) price fell $26.53 per ADS, or 26%, to close at $73.66 per ADS on November 18, 2020.<\/p>\n<p align=\"justify\">The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) JOYY 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 roundtripping scheme that manufactured the false appearance of revenues; (4) the Company overstated its cash reserves; (5) the Company\u2019s acquisition of Bigo was largely contrived to benefit corporate insiders; and (6) as a result, Defendants\u2019 public statements were materially false and\/or misleading at all relevant times.<\/p>\n<p align=\"justify\">If you purchased or otherwise acquired JOYY securities during the Class Period, you may move the Court no later than\u00a0<strong>January 19, 2021 <\/strong>to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to\u00a0learn more\u00a0about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=CGklNQ-eOsV4latOYrDZMmVmq3-H0pcJ1ra355iotfXEyu9t5nMCsa31APDPHXD_W1D8G8310DAQG74vq6C7XFsX9jKf-F3oGeGZQi8MXg7X2ZL9Uov-aSLxl04S5nWf\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">howardsmith@howardsmithlaw.com<\/a>, or visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ok6ZeNb2FQnxuekj9duG7tQIJRMLMstiMb_zJW3OF7QOoU7FEepNVafBil-mxcl70pKthy3Vb-yZpm-MHchHpOF_CEZiW-eXviBKvQj6Ui0=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.howardsmithlaw.com<\/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\">\n        <strong>Contacts<\/strong><br \/>\n        <br \/>Law Offices of Howard G. Smith<br \/>Howard G. Smith, Esquire<br \/>215-638-4847<br \/>888-638-4847<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=CGklNQ-eOsV4latOYrDZMmVmq3-H0pcJ1ra355iotfVOb140ulFo5ALgFMXZrz_uoxPf9CRDtfbIkE80P6y2Fh2P2DBTL-F4NZ08uzrt8ClmSBVBuWO_lmJICgXaMmqL\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">howardsmith@howardsmithlaw.com<\/a><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ok6ZeNb2FQnxuekj9duG7tQIJRMLMstiMb_zJW3OF7S4RL5q4eVfKfBpTDmEt_fQAJBP8-uDMn6FK797GAq0HTe6VDHtifJO-VftwyjMZy8=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.howardsmithlaw.com<\/a><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyNjM5NyMzOTIwNTcwIzIwMjA0MzI=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/a9ee0c24-b0e4-4543-97ef-c9c6c52155ff\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BENSALEM, Pa., Jan. 15, 2021 (GLOBE NEWSWIRE) &#8212; Law Offices of Howard G. Smith reminds investors of the upcoming January 19, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased JOYY Inc. (\u201cJOYY\u201d or the \u201cCompany\u201d) (NASDAQ: YY) securities between April 28, 2016 and November 18, 2020, inclusive (the \u201cClass Period\u201d). Investors suffering losses on their JOYY investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. On November 18, 2020, Muddy Waters Research published a report entitled &#8220;YY: You Can&#8217;t Make This Stuff Up. Well\u2026Actually You Can,\u201d alleging that the Company &#8220;is &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-joyy-inc-yy-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against JOYY Inc. (YY)&#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-415880","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against JOYY Inc. (YY) - 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\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-joyy-inc-yy-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against JOYY Inc. (YY) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BENSALEM, Pa., Jan. 15, 2021 (GLOBE NEWSWIRE) &#8212; Law Offices of Howard G. Smith reminds investors of the upcoming January 19, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased JOYY Inc. (\u201cJOYY\u201d or the \u201cCompany\u201d) (NASDAQ: YY) securities between April 28, 2016 and November 18, 2020, inclusive (the \u201cClass Period\u201d). Investors suffering losses on their JOYY investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. On November 18, 2020, Muddy Waters Research published a report entitled &#8220;YY: You Can&#8217;t Make This Stuff Up. Well\u2026Actually You Can,\u201d alleging that the Company &#8220;is &hellip; Continue reading &quot;Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against JOYY Inc. 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(\u201cJOYY\u201d or the \u201cCompany\u201d) (NASDAQ: YY) securities between April 28, 2016 and November 18, 2020, inclusive (the \u201cClass Period\u201d). Investors suffering losses on their JOYY investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. On November 18, 2020, Muddy Waters Research published a report entitled &#8220;YY: You Can&#8217;t Make This Stuff Up. Well\u2026Actually You Can,\u201d alleging that the Company &#8220;is &hellip; Continue reading \"Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against JOYY Inc. (YY)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-joyy-inc-yy-2\/","og_site_name":"Market Newsdesk","article_published_time":"2021-01-15T17:03:25+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyNjM5NyMzOTIwNTcwIzIwMjA0MzI=","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\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-joyy-inc-yy-2\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-joyy-inc-yy-2\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Deadline Reminder: Law Offices of Howard G. 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