SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Yalla Group Limited Investors
NEW YORK, September 19, 2021 / PRNewswire / – Pomerantz LLP is investigating claims on behalf of investors in Yalla Group Limited (“Yalla” or the “Company”) (NYSE: YALA). These investors are advised to contact Robert S. Willoughby To [email protected] or 888-476-6529, ext. 7980.
The purpose of the investigation is to determine whether Yalla and any of its officers and / or directors have engaged in securities fraud or other illegal business practices.
At May 19, 2021, Swan Street Research (“Swan Street”) published a report on Yalla, titled “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 is inflating its measures, including its revenues, and calls Yalla’s financial statements“ not credible ”.
Following this news, the price of Yalla’s US depositary stock (“ADS”) fell. $ 1.31 by ADS, or 7.15%, to close at $ 17.01 by ADS on May 19, 2021.
The Pomerantz firm, with offices in new York, Chicago, Los Angeles, and Paris is recognized as one of the leading firms in the areas of corporate law, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz was a pioneer in the field of class actions in securities. Today, more than 80 years later, Pomerantz continues the tradition it established, fighting for the rights of victims of securities fraud, breach of fiduciary duty and professional misconduct. The firm has recovered numerous multi-million dollar damages on behalf of the members of the group. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext 7980
SOURCE Pomerantz LLP