LOS ANGELES, Jan. 26, 2021 (Globe NEWSWIRE) — The Portnoy Law Agency advises investors that a class action lawsuit has been submitted on behalf of Lizhi, Inc. (NASDAQ:LIZI) investors that acquired shares in connection with it is January 17, 2020 IPO. Buyers have until eventually March 22, 2021 to search for an energetic function in this litigation.
Investors are encouraged to speak to attorney Lesley F. Portnoy, to establish eligibility to participate in this action, by phone 310-692-8883 or e mail, or click on right here to sign up for the situation.
According to the lawsuit, the Registration Assertion contained misleading and/or wrong statements and/or failed to disclose that: (1) the coronavirus was currently ravaging China, the dwelling foundation, principal marketplace, and sizeable hub for Lizhi, its personnel, and its shoppers, at the time of the IPO, (2) Lizhi’s company was previously staying negatively afflicted by the troubles affiliated with the coronavirus, as staff members and buyers contracted the virus, shed work, or or else expert trouble in building, publishing, and monetizing the written content essential to Lizhi’s system (3) Lizhi employees and prospects complained of, and to, Lizhi, even prior to the IPO, which harmed the Lizhi’s name and fiscal affliction and potential clients and (4) Lizhi’s community statements were materially phony and/or deceptive at all appropriate instances, as a outcome.
A class action lawsuit has already been filed. If you wish to provide as guide plaintiff, you must move the Court no afterwards than March 22, 2021.
You should take a look at our web-site to evaluation much more information and submit your transaction information.
The Portnoy Regulation Agency signifies buyers in pursuing statements arising from corporate wrongdoing. The Firm’s founding associate has recovered in excess of $5.5 billion for aggrieved buyers. Attorney promotion. Prior outcomes do not warranty identical results.
Lesley F. Portnoy, Esq.
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