JOYY Inc. American Depositary Shares (NASDAQ: YY)
Company Name:JOYY Inc. American Depositary Shares
Stock Symbol:NASDAQ: YY
Class Period Start:04/28/2016
Class Period End (inclusive):11/18/2020
According to the Complaint, it is alleged that Defendants made 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.