The Law Offices of Frank R. Cruz Announces Investigation of Lizhi, Inc. (LIZI) on Behalf of Investors

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Lizhi Inc. (“Lizhi” or the “Company”) (NASDAQ: LIZI) on behalf of investors concerning the Company’s possible violations of federal securities laws.

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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.

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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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [e-mail], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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