The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased DouYu International Holdings Limited (NASDAQ: DOYU) stock in the initial public offering pursuant and/or traceable to the documents used by defendants to conduct the initial public offering.
According to the DouYu lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: as of the initial public offering: (i) DouYu’s risks related to its top streamers had materialized, including that: (a) a top streamer was actively misrepresenting herself on DouYu’s platform;and (b) 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.
If you suffered a loss in DouYu you have until May 26, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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