Investigation announced for Investors in Akazoo S.A. (NASDAQ: SONG) over potential Wrongdoing

An investigation on behalf of investors in shares of Akazoo S.A. (NASDAQ: SONG) concerning potential breaches of fiduciary duties by certain directors and officers of Akazoo S.A. was announced.

Investors who are investors in Akazoo S.A. (NASDAQ: SONG) shares, 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 for investors in NASDAQ: SONG stocks follows a lawsuit filed against Akazoo S.A. over alleged securities laws violations. The investigation on behalf of current long term investors in Akazoo S.A. (NASDAQ: SONG stocks, concerns whether certain Akazoo S.A. (NASDAQ: SONG officers and directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Eastern District of New York the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that Akazoo overstated its revenue, profits, and cash holdings, that Akazoo holds significantly lesser music distribution rights than it has stated and implied, that as opposed to Akazoo’s continued statements, it does not operate in 25 countries, that Akazoo has a significantly smaller user base than it states, that Akazoo has closed its headquarters and other offices around the world, and that as a result, defendants’ public statements were materially false and/or misleading at all relevant times. According to the suit, these true details were disclosed by a market research firm.

Those who purchased shares of Akazoo S.A. (NASDAQ: SONG) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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.

This release was published on openPR.