NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the New York State Court on behalf of investors that purchased DouYu International Holdings Limited (NASDAQ: DOYU) securities pursuant or traceable to the Company’s initial public offering, which commenced on or about July 17, 2019 (the “IPO” or “Offering”).
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On or about July 17, 2019 , DouYu sold about 67.4 million shares of stock in its initial public stock offering (the “IPO”), at $11.50 a share raising $774,951,765 in new capital. However, since the IPO, DouYu stock has plunged. On March 23, 2020, shares closed at $7.00.
The complaint alleges that officers and directors of DouYu failed to disclose on the company’s registration statement for the IPO that its largest shareholder was planning to invest $1 billion in a competitor.
If you purchased DouYu securities pursuant or traceable to the IPO, 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 Melissa Fortunato or Marion Passmore by email at email@example.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.