NEW YORK, NY / ACCESSWIRE / November 25, 2020 / 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.
Credit Acceptance Corporation (NASDAQ:CACC)
Investors Affected: November 1, 2019 - August 28, 2020
A class action has commenced on behalf of certain shareholders in Credit Acceptance Corporation. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the Company was topping off the pools of loans that they packaged and securitized with higher-risk loans; (ii) Credit Acceptance was making high-interest subprime auto loans to borrowers that the Company knew borrowers would be unable to repay; (iii) the borrowers were subject to hidden finance charges, resulting in loans exceeding the usury rate ceiling mandated by state law; (iv) Credit Acceptance took excessive and illegal measures to collect debt from defaulted borrowers; (v) as a result, the Company was likely to face regulatory scrutiny and possible penalties from various regulators or lawsuits; and (vi) that, as a result of the foregoing, Defendants positive statements about the Company’s business, operations, and adherence to appropriate laws and regulations were materially misleading and/or lacked a reasonable basis.
Shareholders may find more information at https://securitiesclasslaw.com/securities/credit-acceptance-corporation-loss-submission-form/?id=11221&from=1.
Royal Caribbean Cruises Ltd. (NYSE:RCL)
Investors Affected: February 4, 2020 - March 17, 2020
A class action has commenced on behalf of certain shareholders in Royal Caribbean Cruises Ltd. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Royal Caribbean misled investors to believe that any issue related to COVID-19 was relatively insignificant; (2) the Company falsely assured investors that bookings outside China were strong with no signs of a slowdown; (3) the Company was experiencing material declines in bookings globally due to customer concerns over COVID-19; and (5) the Company's ships were following grossly inadequate protocols that would foster the spread of COVID-19 and pose a substantial risk to passengers and crews.
Shareholders may find more information at https://securitiesclasslaw.com/securities/royal-caribbean-cruises-ltd-loss-submission-form/?id=11221&from=1.
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=11221&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.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE: The Gross Law Firm