{"id":459945,"date":"2021-03-17T12:33:05","date_gmt":"2021-03-17T16:33:05","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=459945"},"modified":"2021-03-17T12:33:05","modified_gmt":"2021-03-17T16:33:05","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lizhi-inc-lizi-6","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lizhi-inc-lizi-6\/","title":{"rendered":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lizhi, Inc. (LIZI)"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">LOS ANGELES, March  17, 2021  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=X1xlEv2vHC-5Xz0brQA_JnnPxEmQ-_PfAaZTACerKAXscp4_XRNe6O7ugHT8_v7vbXO5jwxm2GLqq1RIIzxS_BDEGWUSOAmTxAbo7lTP5pQ=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Glancy Prongay &amp; Murray LLP<\/a> (\u201cGPM\u201d) reminds investors of the upcoming\u00a0<strong>March 22, 2021<\/strong><strong>\u00a0<\/strong>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Lizhi Inc. (\u201cLizhi\u201d or the \u201cCompany\u201d) (NASDAQ: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=wu-c9sDWmXa2zDTLLGPH166HJgjG4FtWaWofk8rXm6-nFFruPt7TA5ykm6AejuAsnJ-S4gA8qwKpWp3_QkePEw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">LIZI<\/a>) American Depositary Shares (\u201cADSs\u201d or \u201cshares\u201d) pursuant and\/or traceable to the Company\u2019s January 2020 initial public offering (\u201cIPO\u201d or the \u201cOffering\u201d).<\/p>\n<p>If you suffered a loss on your Lizhi investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=jwpgGw6pP32c3r9zT3r5r9X5sN3iyENGVgvLyIXK4F0oKiZLH8GSArIuvOzCezwXKiBqVNrJmqlHtOiXNipqVPDPxB-RM_Gl-0uGWjsGorcNdQw6XSY235U6njPlTXN-3y1EmtPyUrHjzRLptHmQHw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.glancylaw.com\/cases\/lizhi-inc\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=LUBbQfoenLLB_sMbjXsRjDSwpBQtD4pnMVIqYGsR19YRWBi6-5Kc3iBuOzhFARWnUtzHGhog8DEScP5FglOxhNLWwrqNzvTu_rNejB2LL5F1NvumWnCvm_s6b08VSlgH\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a> to learn more about your rights.<\/p>\n<p>In January, 2020, Lizhi conducted its IPO, issuing 4.1 million ADSs priced at $11.00 per ADS.<\/p>\n<p>On April 20, 2020, Lizhi admitted that before the IPO, as early as \u201clate 2019,\u201d the COVID-19 pandemic was already negatively impacting its business.<\/p>\n<p>Since the IPO, Lizhi shares are trading below $4 per share, or 63% below the IPO price.<\/p>\n<p>The complaint alleges that 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) at the time of the IPO, the coronavirus was already ravaging China, the home base, principal market, and significant hub for Lizhi, its employees, and its customers; (2) the complications associated with the coronavirus were already negatively affecting Lizhi&#8217;s business, as employees and customers contracted the virus, lost employment, or otherwise experienced difficulty in generating, publishing, and monetizing the content critical to Lizhi&#8217;s platform; (3) even prior to the IPO, Lizhi employees and customers complained of, and to, Lizhi, which harmed the Company&#8217;s reputation and financial condition and prospects; and (4) as a result, Defendants&#8217; statements about its business, operations, and prospects, were materially false and misleading and\/or lacked a reasonable basis at all relevant times.<\/p>\n<p>Follow us for updates on <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Mr5V_-1ThBH4dqxpnXSEJtKMh-m3Kl7pV-TSyUaOgLDsqUV4JpLDv26Z-9U6nqpYsWKN_A24OwUwv72BRbusQJpF9C2VbQZwxNQ-_sJD1WlbIZVbtbvJx73coZYjkOMr\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">LinkedIn<\/a>, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=CeViZegaHlc14kirLFW8sQ4srJENLx-VwCELlH4cT23ntjA92TyUjil80dGWssnvYWt7V9T6GE2SfbOG7eyWAA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Twitter<\/a>, or <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=VM4B0hNTvun0UTNStJpbJNszza1q8PqhYhMnKZuotYwP6xyLe3llJX7UtppZHty99BGbZdf05mk3sk_UsXgqHvvU0LLRl6gaUFYfGT3fTdo=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Facebook<\/a>.<\/p>\n<p>If you purchased Lizhi ADSs pursuant and\/or traceable to the IPO, you may move the Court no later than\u00a0<strong>March 22, 2021 <\/strong>to request appointment as lead plaintiff in this putative class action lawsuit. 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 the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=LUBbQfoenLLB_sMbjXsRjDSwpBQtD4pnMVIqYGsR19at_4PIqnTO5Cfx9tXppfIGnc0jUoRW8ZYOzSun-mTrHx8bZ20l2dyFwkUIvdFajqub3Ggkj2DiUZN26wQtPYSE\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a>, or visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=OfGhPK7649KqL2JfW6pyxNAU3BAsMiDDuNtgBS91KJAwSHT-0CiuiMRGLaknojLGto8slG0W32uXSg8whTuQ8A==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.<\/p>\n<p>This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n<p>\n        <strong>Contacts <\/strong><br \/>\n        <br \/>Glancy Prongay &amp; Murray LLP, Los Angeles <br \/>Charles Linehan, 310-201-9150 or 888-773-9224 <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=LUBbQfoenLLB_sMbjXsRjDSwpBQtD4pnMVIqYGsR19YvuOPmnOVgx1S-dbcBA0ZrGPNaFtuNuGoNPei0AHVBN1RRB2TCF_pqSYt6Y2a4Xs10dMcHgN3_mQWtnI9Kz3sv\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=OfGhPK7649KqL2JfW6pyxC1F8Wkrt_ndsa6btX2VMKpj-y5JCXhrlKy80dy1npMsHRJpj_lkK0--ddgs1lDhk97MCM_9nDOgkkf0piyPszY=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a><\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE5MTE5NCM0MDY3MzIzIzIwMTcyOTE=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/957e5d1f-04e7-41fb-8a27-0cf89812c973\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>LOS ANGELES, March 17, 2021 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0March 22, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Lizhi Inc. (\u201cLizhi\u201d or the \u201cCompany\u201d) (NASDAQ: LIZI) American Depositary Shares (\u201cADSs\u201d or \u201cshares\u201d) pursuant and\/or traceable to the Company\u2019s January 2020 initial public offering (\u201cIPO\u201d or the \u201cOffering\u201d). If you suffered a loss on your Lizhi investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/lizhi-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lizhi-inc-lizi-6\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lizhi, Inc. (LIZI)&#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-459945","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lizhi, Inc. (LIZI) - 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\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lizhi-inc-lizi-6\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lizhi, Inc. (LIZI) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"LOS ANGELES, March 17, 2021 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0March 22, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Lizhi Inc. (\u201cLizhi\u201d or the \u201cCompany\u201d) (NASDAQ: LIZI) American Depositary Shares (\u201cADSs\u201d or \u201cshares\u201d) pursuant and\/or traceable to the Company\u2019s January 2020 initial public offering (\u201cIPO\u201d or the \u201cOffering\u201d). If you suffered a loss on your Lizhi investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/lizhi-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at &hellip; Continue reading &quot;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lizhi, Inc. 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(LIZI) - 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\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lizhi-inc-lizi-6\/","og_locale":"en_US","og_type":"article","og_title":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lizhi, Inc. (LIZI) - Market Newsdesk","og_description":"LOS ANGELES, March 17, 2021 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0March 22, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Lizhi Inc. (\u201cLizhi\u201d or the \u201cCompany\u201d) (NASDAQ: LIZI) American Depositary Shares (\u201cADSs\u201d or \u201cshares\u201d) pursuant and\/or traceable to the Company\u2019s January 2020 initial public offering (\u201cIPO\u201d or the \u201cOffering\u201d). If you suffered a loss on your Lizhi investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/lizhi-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at &hellip; Continue reading \"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lizhi, Inc. (LIZI)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lizhi-inc-lizi-6\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-17T16:33:05+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE5MTE5NCM0MDY3MzIzIzIwMTcyOTE=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lizhi-inc-lizi-6\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-lizhi-inc-lizi-6\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lizhi, Inc. 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