Singapore markets closed
  • Straits Times Index

    3,173.91
    +9.05 (+0.29%)
     
  • Nikkei

    29,068.63
    +517.70 (+1.81%)
     
  • Hang Seng

    25,330.96
    +368.37 (+1.48%)
     
  • FTSE 100

    7,234.03
    +26.32 (+0.37%)
     
  • BTC-USD

    61,627.69
    +2,518.96 (+4.26%)
     
  • CMC Crypto 200

    1,464.06
    +57.32 (+4.07%)
     
  • S&P 500

    4,471.37
    +33.11 (+0.75%)
     
  • Dow

    35,294.76
    +382.20 (+1.09%)
     
  • Nasdaq

    14,897.34
    +73.91 (+0.50%)
     
  • Gold

    1,768.10
    -29.80 (-1.66%)
     
  • Crude Oil

    82.66
    +1.35 (+1.66%)
     
  • 10-Yr Bond

    1.5760
    +0.0570 (+3.75%)
     
  • FTSE Bursa Malaysia

    1,598.28
    +5.76 (+0.36%)
     
  • Jakarta Composite Index

    6,633.34
    +7.22 (+0.11%)
     
  • PSE Index

    7,213.46
    +30.35 (+0.42%)
     

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Yalla Group Limited – YALA

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

NEW YORK, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Yalla Group Limited (“Yalla” or the “Company”) (NYSE: YALA).Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Yalla and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On May 19, 2021, Swan Street Research (“Swan Street”) published a report addressing Yalla, entitled “Is Yalla Group a Multi $B Fraud? The ‘Clubhouse of the Middle East’ UAE Tech Unicorn that Never Was”. The Swan Street report alleges, among other things, that the Company inflates its metrics, including revenue, and characteries Yalla’s financial statements as “not credible”.

On this news, Yalla’s American depositary share (“ADS”) price fell $1.31 per ADS, or 7.15%, to close at $17.01 per ADS on May 19, 2021.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980


Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting