SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Involving Possible Securities Fraud Violations by Certain Officers and Directors of DouYu International Holdings Limited-DOYU
NEW YORK, NY / ACCESSWIRE / March 20, 2020 / Levi & Korsinsky notifies investors that it has commenced an investigation of DouYu International Holdings Limited ("DouYu" or "the Company") (NASDAQ:DOYU) concerning possible violations of federal securities laws.
In July 2019, DouYu conducted its initial public offering (the "IPO") at a price of $11.50 per American Depository Share. The Company secured over $489 million in net proceeds from investors in the IPO. However, the IPO registration statement and prospectus concealed massive problems at the Company, including, among other things, that as of the IPO: (i) DouYu's risks related to its top streamers had materialized because a top streamer was actively misrepresenting herself on DouYu's platform and costs associated with retaining top streamers was swelling; (ii) DouYu did not ensure that all of its products were fully compliant with current regulatory requirements before those products became available online; and (iii) key interactive features of DouYu's "lucky draw" were non-compliant with current regulatory requirements.
To obtain additional information, go to:
https://www.zlk.com/pslra-1/douyu-international-holdings-limited-loss-form
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky, LLP
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