DouYu International Holdings Limited (DOYU)
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against DouYu International Holdings Limited (“DouYu” or the “Company”) (NASDAQ: DOYU) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired DouYu securities between April 30,2021 and May 9, 2023, inclusive (the “Class Period”). Such investors are encouraged to join this case.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The Complaint alleges that, throughout the Class Period, defendants made materially 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.
A class action lawsuit has already been filed. You can review a copy of the Complaint or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in DouYu you have until August 8, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.