NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Akazoo S.A. (NASDAQ: SONG) resulting from allegations that Akazoo may have issued materially misleading business information to the investing public.
On April 20, 2020, Quintessential Capital released a presentation and report concerning Akazoo, stating that the Company looks like a "castle of cards" because its users, subscribers, revenue, and profit may be “profoundly overstated.” Quintessential Capital further stated “[w]e believe Akazoo is a scheme orchestrated by management to profit while egregiously deceiving investors.”
On this news, Akazoo’s share price plummeted as much as 26% during intraday trading.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Akazoo investors. If you purchased shares of Akazoo please visit the firm’s website at http://www.rosenlegal.com/cases-register-1843.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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