Press release
Investigation announced for Investors in shares of Lizhi Inc. (NASDAQ: LIZI) over possible Violations of Securities Laws
An investigation for investors in Lizhi Inc. (NASDAQ: LIZI) shares over potential securities laws violations by Lizhi Inc.
Investors who purchased shares of Lizhi Inc. (NASDAQ: LIZI), 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 possible claims on behalf of purchasers of the securities of Lizhi Inc. (NASDAQ: LIZI) concerning whether a series of statements by Lizhi Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
China based Lizhi Inc. operates an online user-generated content audio community, interactive audio entertainment platform, and online audio platform in China. Lizhi Inc. reported that its annual Total Revenue rose from 798.56 million CNY in 2018 to over 1.18 billion CNY in 2019.
On or about January 17, 2020, Lizhi Inc. sold about 11 million shares of stock in its initial public stock offering (the "IPO"), at $11.00 a share raising nearly $45.1 million in new capital. However, since the IPO, Lizhi Inc. stock has plummeted to as low as $3.40 per share on September 14, 2020.
Those who purchased shares of Lizhi Inc. (NASDAQ: LIZI) 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.
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