innovation esports

EsportsDouYu Shareholder Alert: IPO Investors Class Action Lawsuit
DouYu Shareholder Alert: IPO Investors Class Action Lawsuit thumbnail

DouYu Shareholder Alert: IPO Investors Class Action Lawsuit

ACCESSWIRE March 25, 2020, 5:35 p.m.UTC
BOSTON, MA / ACCESSWIRE / March 25, 2020 / Thornton Law Firm LLP announces that it is investigating a lawsuit against DouYu International Holdings Limited on behalf of DOYU shareholders ( DOYU ).DOYU investors who purchased DOYU stock during the IPO on July 18, 2019 or up until December 31, 2019, are encouraged to visit may also contact Thornton Law Firm at , or call 617-531-3917.
DouYu International Holdings Limited (DOYU) is a game-focused live streaming platform in China and a major company in the eSports platform.DouYu operates its platform on PC and mobile apps, through which users play interactive games and entertainment live streaming.

Scroll to continue with content Ad
A lawsuit filed against DouYu alleges that the IPO Registration Statement and Prospectus that DouYu and the other defendants used to ultimately secure over $489 million in net proceeds from investors 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, including that: (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.
Since the IPO, the price of DouYu’s ADS has plummeted, trading as low as $7.01 per ADS, representing nearly 40% decline from the Offering Price.
If you have purchased DOYU stock ( DOYU ), please contact the Thornton Law Firm’s shareholder rights team at , or by emailing, or via telephone at 617-531-3917.Story continues
Thornton Law Firm’s securities attorneys are highly experienced in representing individual shareholders and institutional investors in recovering damages caused by violations of the securities laws.Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders.This may be considered Attorney Advertising in some jurisdictions.Prior results do not guarantee or predict a similar outcome with respect to any future matter.
SOURCE: Thornton Law Firm LLP
View source version on .