NEW YORK, NY / ACCESSWIRE / January 14, 2021 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly-traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
Joyy Inc. (NASDAQ:YY)
Investors Affected: April 28, 2016 - November 18, 2020
A class action has commenced on behalf of certain shareholders in Joyy Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) JOYY dramatically overstated its revenues from live streaming sources; (2) The majority of users at any given time were bots; (2) the Company utilized these bots to effect a roundtripping scheme that Manufactured the false appearance of revenues; (3) the Company overstated its cash reserves; (4) the Company's acquisition of Bigo was largely contrived to benefit corporate insiders; and (5) as a result, Defendants' public statements were materially false and/or Misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/joyy-inc-loss-submission-form/?id=12168&from=1
Splunk Inc. (NASDAQ:SPLK)
Investors Affected: October 21, 2020 - December 2, 2020
A class action has commenced on behalf of certain shareholders in Splunk Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Splunk was not closing deals with its largest customers in the third fiscal quarter of 2021; (2) Splunk was not hitting the financial targets it had previously announced; and (3) as a result of the foregoing, Defendants' public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/splunk-inc-loss-submission-form/?id=12168&from=1
GoodRx Holdings, Inc (NASDAQ:GDRX)
Investors Affected: September 23, 2020 - November 16, 2020
A class action has commenced on behalf of certain shareholders in GoodRx Holdings, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: at the time of the IPO, unbeknownst to investors, Amazon.com, Inc. was developing and would soon introduce its own online and mobile prescription medication ordering and fulfillment service that would directly compete with GoodRx. Defendants timed the IPO so that it was priced before Amazon announced its online pharmaceutical business to facilitate the IPO and create artificial demand for the common shares sold therein, as well to maximize the amount of money the Company and the selling stockholders could raise in the IPO. Given defendants' knowledge of Amazon's intention to enter the online pharmaceutical business, and their misleading statements about GoodRx's competitive position made contemporaneously with that knowledge, defendants' materially false and/or misleading statements alleged herein were made willfully and caused GoodRx common stock to trade at artificially inflated prices during the Class Period.
Shareholders may find more information at https://securitiesclasslaw.com/securities/goodrx-holdings-inc-loss-submission-form/?id=12168&from=1
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE: The Gross Law Firm
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