BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Lizhi Inc. (“Lizhi” or the “Company”) (NASDAQ: LIZI) investors concerning the Company’s possible violations of federal securities laws.
In January, 2020, Lizhi conducted its initial public offering (“IPO”), issuing 4.1 million American depositary shares (“ADSs”) priced at $11.00 per ADS.
On November 9, 2020, post-market, Lizhi disclosed its financial results for the third quarter of 2020, which included revenue of $53.24 million, $0.77 million lower than consensus estimates.
On this news, Lizhi’s stock price fell $0.25 per share, or 10.5%, to close at $2.13 per share on November 10, 2020.
If you purchased Lizhi securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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