NEW YORK, NY / ACCESSWIRE / November 30, 2020 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. There will be no obligation or cost to you.
Pintec Technology Holdings Limited (NASDAQ:PT)
If you suffered a loss, contact us at http://www.wongesq.com/pslra-1/pintec-technology-holdings-limited-loss-submission-form?prid=11269&wire=1
Lead Plaintiff Deadline: November 30, 2020
This lawsuit is on behalf of shareholders who purchased PT securities pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's October 2018 initial public offering.
Allegations against PT include that: (1) the Company erroneously recorded revenue earned from certain technical service fee on a net basis, rather than a gross basis; (2) there were material weaknesses in Pintec's internal control over financial reporting related to cash advances outside the normal course of business to Jimu Group, a related party, and to a non-routine loan financing transaction with a third-party entity, Plutux Labs; (3) as a result of the foregoing, the Company's financial results for fiscal 2017 and 2018 had been misstated; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Joyy Inc. (NASDAQ:YY)
If you suffered a loss, contact us at http://www.wongesq.com/pslra-1/joyy-inc-loss-submission-form?prid=11269&wire=1
Lead Plaintiff Deadline: January 19, 2021
Class Period: April 28, 2016 - November 18, 2020
Allegations against YY include 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.
Pinterest, Inc. (NYSE:PINS)
If you suffered a loss, contact us at http://www.wongesq.com/pslra-1/pinterest-inc-loss-submission-form?prid=11269&wire=1
Lead Plaintiff Deadline: January 22, 2021
Class Period: May 16, 2019 - November 1, 2019
Allegations against PINS include that: (i) the Company's addressable market in the U.S. was reaching its maximum capacity; (ii) which significantly decelerated Pinterest's future ability to monetize on U.S. average revenue per user; (iii) Pinterest was at an increased risk of losing advertising revenue; (iv) and as a result, Defendants' public statements were materially false and misleading at all relevant times or lacked a reasonable basis and omitted material facts.
To learn more contact Vincent Wong, Esq. either via email [email protected] or by telephone at 212.425.1140.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
39 East Broadway
New York, NY 10002
E-Mail: [email protected]
SOURCE: The Law Offices of Vincent Wong