NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Lizhi Inc. (NASDAQ: LIZI) resulting from allegations that Lizhi may have issued materially misleading business information to the investing public.
On or about January 17, 2020, Lizhi conducted its initial public offering (“IPO”), issuing 4.1 million American depositary shares (“ADSs”) priced at $11.00 per ADS. Since the IPO, Lizhi’s ADS price has fallen precipitously.
At the time of the IPO, Lizhi failed to disclose that the novel coronavirus was already negatively affecting its business in China, and that it would likely continue to affect Lizhi. When the truth emerged, Lizhi�s share prices tumbled precipitously. Lizhi ADSs now trade below $4.00 per share, well below its $11.00 offering price.
Rosen Law Firm is preparing a securities lawsuit on behalf of Lizhi shareholders. If you purchased securities of Lizhi please visit the firms website at http://www.rosenlegal.com/cases-register-1986.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firms attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contacts
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
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