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NEW YORK, NY / ACCESSWIRE / May 20, 2021 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Yalla Group Limited ("Yalla" or the "Company") (NYSE:YALA). Investors who purchased Yalla securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/yala.
The investigation concerns whether Yalla and certain of its officers and/or directors have violated federal securities laws.
On May 19, 2021, Swan Street Research ("Swan Street") published a report addressing Yalla, entitled "Is Yalla Group a Multi $B Fraud? The ‘Clubhouse of the Middle East' UAE Tech Unicorn that Never Was". The Swan Street report alleges, among other things, that the Company inflates its metrics, including revenue, and characteries Yalla's financial statements as "not credible". On this news, Yalla's American depositary share ("ADS") price fell $1.31 per ADS, or 7.15%, to close at $17.01 per ADS on May 19, 2021.
If you are aware of any facts relating to this investigation, or purchased Yalla shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/yala. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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