INVESTIGATION REMINDER: The Schall Law Firm Announces it is Investigating Claims Against Yalla Group Limited and Encourages Investors with Losses of $100,000 to Contact the Firm
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 Yalla Group Limited (“Yalla” or “the Company”) (NYSE: YALA) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Yalla conducted its initial public offering (“IPO”) on or around September 30, 2020. The Company issued 18.6 million American depositary shares (“ADSs”) priced at $7.50 per ADS. The Company announced its unaudited third quarter 2020 financial results on November 9, 2020. The Company reported GAAP EPS of -$0.43 and costs of “$US64.7 million . . . compared with US$8.6 million in the same period last year.” The Company stated: “[t]he increase was primarily due to the recognition of share-based compensation of US$46.5 million upon our listing on the New York Stock Exchange on September 30, 2020. We granted a substantial amount of share options before the IPO but did not recognize any share-based compensation in prior periods because the exercisability of the options granted was conditional upon the completion of our IPO. Upon our listing on the NYSE, we immediately recognized a substantial amount of share-based compensation expenses associated with all outstanding options that were vested as of September 30, 2020.” Based on this announcement, the Company’s ADS price fell by more than 17% on November 10, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201118006035/en/
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
[email protected]
www.schallfirm.com
KEYWORDS: California United States North America
INDUSTRY KEYWORDS: Legal Professional Services
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