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3-Day Deadline Alert: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Momo Inc. and Encourages Investors with Losses in Excess of $50,000 to Contact the Firm

Saturday, 13 July 2019 08:05 AM

The Schall Law Firm

LOS ANGELES, CA / ACCESSWIRE / July 13, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Momo Inc. ("Momo" or "the Company") (NASDAQ: MOMO) for violations of ยงยง10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

The Schall Law Firm, Saturday, July 13, 2019, Press release picture

Investors who purchased the Company's shares between April 21, 2015 and April 29, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before July 15, 2019.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Momo failed to maintain adequate controls and compliance procedures to prevent inappropriate financial reporting activity. The Company's Tantan dating app was not compliant with Chinese laws. This put the app at risk of being removed from Chinese app stores at the direction of government officials. Based on these facts, the Company's public statements were false and materially misleading. When the market learned the truth about Momo, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
Sherin Mahdavian, Esq.,
www.schallfirm.com
Office: 310-301-3335
Cell: 424-303-1964
[email protected]

SOURCE: The Schall Law Firm

Topic:
Advertorial
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