San Diego, CA -- (SBWire) -- 04/27/2021 --Certain directors of Lizhi Inc. are under investigation concerning potential breaches of fiduciary duties.
Investors who are current long term investors in Lizhi Inc. (NASDAQ: LIZI) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: LIZI stocks follows a lawsuit filed against Lizhi Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: LIZI stocks, concerns whether certain Lizhi Inc directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the Registration Statement that was filed in connection with Lizhi's IPO contained false and/or misleading statements and/or failed to disclose that at the time of the IPO, the coronavirus was already ravaging China, the home base, principal market, and significant hub for Lizhi, its employees, and its customers, that the complications associated with the coronavirus were already negatively affecting Lizhi's business, as employees and customers contracted the virus, lost employment, or otherwise experienced difficulty in generating, publishing, and monetizing the content critical to Lizhi's platform, that even prior to the IPO, Lizhi employees and customers complained of, and to, Lizhi, which harmed the Company's reputation and financial condition and prospects, and that as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
Those who purchased shares of Lizhi Inc. (NASDAQ: LIZI) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NASDAQ:LIZI Long Term Investor Notice: Investigation of Potential Wrongdoing at Lizhi Inc.
An investigation on behalf of current long term investors in Lizhi Inc. (NASDAQ:LIZI) shares over possible breaches of fiduciary duty by certain officers and directors was announced.