NEW YORK, Jan. 22, 2021 /PRNewswire/ --A Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of Lizhi Inc.A (NASDAQ: LIZI) pursuant and/or traceable to Lizhi's January 17, 2020 initial public offering (the "IPO" or the "Offering"). The lawsuit seeks to recover damages for Lizhi investors under the federal securities laws.
To join the Lizhi class action, go https://www.rosenlegal.com/cases-register-1986.htmlA or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.comA or cases@rosenlegal.comA for information on the class action.According to the lawsuit, the Registration Statement contained false and/or misleading statements and/or failed to disclose that: (1) 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; (2) 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; (3) 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 (4) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court
no later than March 22, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to https://www.rosenlegal.com/cases-register-1986.htmlA or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or cases@rosenlegal.com.
