EQUITY ALERT: Rosen Law Firm Files Securities Class Action Lawsuit on Behalf of DouYu International Holdi
Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of DouYu International Holdings Limited DOYU between April 30, 2021 and May 9, 2023, both dates inclusive (the "Class Period"). The lawsuit seeks to recover damages for DouYu investors under the federal securities laws.
To join the DouYu class action, go to https://rosenlegal.com/submit-form/?case_id=15999 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, 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 the true details entered the market, the lawsuit claims that investors suffered damages.