Momo Inc. The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Momo Inc. (NASDAQ: MOMO) securities between April 21, 2014 and April 29, 2019.
According to the Momo lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Momo’s compliance procedures and controls were inadequate to prevent, inter alia, illicit financial reporting activity; (ii) Momo’s social and dating app, Tantan, was materially noncompliant with PRC law and/or regulations; (iii) Tantan was consequently at an increased risk of being removed from Chinese app stores at the direction of Chinese governmental authorities; and (iv) as a result, Momo’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in Momo you have until July 15, 2019 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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