According to the Complaint, DouYu International Holdings Limited purports to one of China’s top two live-streaming video game platforms. Operating on personal computer (“PC”) and mobile applications, DouYu enables users to enjoy immersive and interactive games and live streaming entertainment.

This is a federal securities class action on behalf of all persons and entities, other than Defendants, who purchased DouYu American Depositary Shares pursuant and/or traceable to the Company’s Registration Statement issued in connection with the Company’s July 16, 2019 initial public offering.

The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) DouYu’s risks related to its top streamers had materialized, including that: (a) a top streamer was actively misrepresenting herself on DouYu’s platform; and (b) the costs associated with retaining top streamers was swelling; (2) DouYu did not ensure that all of its products were fully compliant with current regulatory requirements before those products became available on line; and (3) key interactive features of DouYu’s “lucky draw” were noncompliant with current regulatory requirements, requiring DouYu to remove them from operations, which negatively impacted user engagement activity and caused disappointing financial results.

On August 18, 2020, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel.

On September 2, 2020, this case was transferred to the Southern District of New York. Lead Plaintiff filed an amended Complaint on December 24. On April 2, 2021, Lead Plaintiff filed a second amended Complaint. Lead Plaintiff filed a third amended Complaint on June 11.