Press release
Investigation announced for Investors in shares of Tencent Music Entertainment Group (NYSE: TME)
An investigation for investors in Tencent Music Entertainment Group (NYSE: TME) shares.
Investors who purchased shares of Tencent Music Entertainment Group (NYSE: TME), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Tencent Music Entertainment Group regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
China based Tencent Music Entertainment Group operates online music entertainment platforms that provides music streaming, online karaoke, and live streaming services in the People's Republic of China. Tencent Music Entertainment Group reported that its annual Ttoal Revenue rose from over 10.98 billion CNY in 2017 to over 18.98 billion CNY in 2018 and that its Net Income increased from over 1.32 billion CNY in 2017 to over 1.83 billion CNY in 2018.
Shares of Tencent Music Entertainment Group (NYSE: TME) reached as high as $18.58 per share in April 2019.
On August 27, 2019, it was reported that the State Administration of Market Regulation, China's antitrust authority, is investigating exclusive licensing deals between Tencent Music Entertainment Group and major record labels including Universal Music Group, Sony Music Entertainment, and Warner Music Group.
Shares of Tencent Music Entertainment Group (NYSE: TME) declined to as low as $12.28 per share on August 27, 2019.
Those who purchased shares of Tencent Music Entertainment Group (NYSE: TME) have certain options and should contact the Shareholders Foundation.
Media Contact:
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Shareholders Foundation, Inc.
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Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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