Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Momo Inc. (NASAQ: MOMO) and Encourages Momo Investors to Contact the Firm
05/15/2019 | 09:02pm EDT
NEW YORK, May 15, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Momo Inc. (NASDAQ: MOMO) American Depository Shares (“ADSs”) between April 21, 2015 and April 29, 2019 (the “Class Period”). Investors have until July 15, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the company’s business, operational and compliance policies. Specifically, the complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) Momo’s compliance procedures and controls were inadequate to prevent, inter alia, illicit financial reporting activity; (2) Momo’s social and dating app, Tantan, was materially noncompliant with PRC law and/or regulations; (3) Tantan was consequently at an increased risk of being removed from Chinese app stores at the direction of Chinese governmental authorities; and (4) as a result, Momo’s public statements were materially false and misleading at all relevant times.
If you purchased Momo ADSs during the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Momo lawsuit, please go to https://bespc.com/momo/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.