SAN FRANCISCO, July 08, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, with nine offices in eight cities around the country and eighty attorneys, reminds investors in Momo Inc. (NASDAQ: MOMO) of the July 15, 2019 Lead Plaintiff deadline in the securities class action, Marchand v. Momo Inc. et al., No. 1:19-cv-04433, pending in the U.S. District Court for the Southern District of New York.
If you purchased or otherwise acquired Momo securities between April 21, 2015 and April 29, 2019 (the “Class Period”) and suffered in excess of $50,000 in losses you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case.
If you wish to serve as a lead plaintiff in this class action, you must move the Court no later than July 15, 2019. Contact Hagens Berman immediately for more information about the case and being a lead plaintiff.
https://www.hbsslaw.com/cases/MOMO
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
According to the complaint, Defendants misled investors about the adequacy of Momo’s procedures and controls for financial reporting and whether Momo’s social and dating app, Tantan, complied with Chinese regulations. The price of Momo shares sharply declined following reports of illicit financial reporting practices at the Company and regulators’ required removal of the Tantan app from certain app stores.
“We’re focused on investors’ losses and the extent to which Defendants may have misled investors about Momo’s internal controls for financial reporting and compliance with relevant laws and regulations,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Momo should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email MOMO@hbsslaw.com.
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Contact:
Reed Kathrein, 510-725-3000