LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Dragon Victory International Limited (“Dragon Victory” or “the Company”) (NASDAQ: LYL) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Dragon Victory’s CEO, Yu Han, resigned from his position with little or no notice just three days after the Company’s stock began trading on the NASDAQ exchange. Dragon Victory may have concealed information from investors about this departure. Following the resignation, Dragon Victory’s stock dropped significantly and is now trading at approximately $3 per share.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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