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Case Status:    ONGOING    
On or around 11/25/2020 (Date of last review)

Filing Date: November 20, 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.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: China

SECURITIES INFORMATION:

Ticker Symbol: YY
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: C.D. California
DOCKET #: 20-CV-10611
JUDGE: Hon. Stanley Blumenfeld, Jr.
DATE FILED: 11/20/2020
CLASS PERIOD START: 04/28/2016
CLASS PERIOD END: 11/18/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm, P.A. (New Los Angeles)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available