U.S. Markets closed
  • S&P Futures

    3,646.25
    +9.75 (+0.27%)
     
  • Dow Futures

    29,934.00
    +60.00 (+0.20%)
     
  • Nasdaq Futures

    12,329.00
    +71.50 (+0.58%)
     
  • Russell 2000 Futures

    1,856.30
    +3.30 (+0.18%)
     
  • Crude Oil

    45.14
    -0.39 (-0.86%)
     
  • Gold

    1,789.60
    +1.50 (+0.08%)
     
  • Silver

    22.76
    +0.12 (+0.53%)
     
  • EUR/USD

    1.1977
    +0.0064 (+0.5390%)
     
  • 10-Yr Bond

    0.8420
    -0.0360 (-4.10%)
     
  • Vix

    20.84
    -0.41 (-1.93%)
     
  • GBP/USD

    1.3334
    -0.0022 (-0.1680%)
     
  • USD/JPY

    104.1060
    -0.1440 (-0.1381%)
     
  • BTC-USD

    18,162.96
    +394.90 (+2.22%)
     
  • CMC Crypto 200

    333.27
    -4.23 (-1.25%)
     
  • FTSE 100

    6,367.58
    +4.65 (+0.07%)
     
  • Nikkei 225

    26,644.71
    +107.41 (+0.40%)
     

ROSEN, GLOBALLY RESPECTED INVESTOR COUNSEL, Announces Investigation of Securities Claims Against JOYY Inc. – YY

The Rosen Law Firm PA
·2 min read

NEW YORK, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of JOYY Inc. (NASDAQ: YY) resulting from allegations that JOYY may have issued materially misleading business information to the investing public.

On November 18, 2020, Muddy Waters Research published a report entitled “YY: You Can’t Make This Stuff Up. Well…Actually You Can[.]” The Muddy Waters report described a series of issues involving JOYY, stating that the Company “is a multibillion-dollar fraud.” Further, the Muddy Waters report stated “We conclude that YY’s component businesses are a fraction of the size it reports, and that the company’s reported user metrics, revenues, and cash balances are predominantly fraudulent[,]” and that “[a]pproximately 84% of YY’s reported consolidated revenue appears to be fraudulent.”

On this news, the JOYY American depositary share (“ADS”) price fell $26.53 per ADS, or 26%, to close at $73.66 per ADS on November 18, 2020.

Rosen Law Firm is preparing a securities lawsuit on behalf of JOYY shareholders. If you purchased securities of JOYY please visit the firm’s website at http://www.rosenlegal.com/cases-register-1988.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com