Momo Inc. : American Depositary Shares Securities Litigation
On or around 01/24/2020 (Date of last review)
Filing Date: May 15, 2019
According to the Complaint, Momo operates a mobile-based social and entertainment platform in the PRC.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Momo’s compliance procedures and controls were inadequate to prevent, inter alia, illicit financial reporting activity; (ii) Momo’s social and dating app, Tantan, was materially noncompliant with PRC law and/or regulations; (iii) Tantan was consequently at an increased risk of being removed from Chinese app stores at the direction of Chinese governmental authorities; and (iv) as a result, Momo’s public statements were materially false and misleading at all relevant times.
On September 18, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on November 20.
Company & Securities Information
Defendant: Momo Inc.
Industry: Software & Programming
Ticker Symbol: MOMO
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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