NEW YORK, June 14, 2023 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against DouYu International Holdings Limited (NASDAQ: DOYU) (“DouYu” or the “Company”) for violations of the federal securities laws on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired DouYu securities between April 30, 2021 and May 9, 2023, both dates inclusive (the “Class Period”).
On June 9, 2023, a complaint was filed against the Company and certain of its officers alleging that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) The Chinese government, due to concerns about issues such as video game and computer addiction, as well as content challenging its authority, could become increasingly aggressive towards DouYu regardless of how effective or sincere its attempts to comply with Chinese law were; (2) This increasingly aggressive posture subjected DouYu to a heightened risk of an investigation and subsequent government enforcement action and ultimately resulted in enforcement action; and (3); as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
When investors learned the truth, DouYu’s common stock declined precipitously, injuring investors.
If you suffered a loss of more than $100,000 in DouYu’s securities, and wish to participate, or learn more, please contact our attorneys at (914) 733-7256 or via email to Andrea Farah at firstname.lastname@example.org or Vincent R. Cappucci Jr. at email@example.com.
Any investor who wishes to serve as Lead Plaintiff must act before August 8, 2023.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Lowey Dannenberg P.C.
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SOURCE: Lowey Dannenberg P.C.