GlobeNewswire Inc | Nov 19, 2020 04:20PM EST

November 19, 2020

SAN FRANCISCO, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Hagens Berman urges JOYY Inc. (NASDAQ YY) investors with significant losses to submit your lossesnow. The firm is investigating possible securities law violations and certain investors may have valuable claims.

Relevant Holding Period: Before Nov. 18, 2020Visithbsslaw.com/investor-fraud/JOYYContact An Attorney NowJOYY@hbsslaw.com 844-916-0895

JOYY Inc. (YY) Investigation:

The investigation centers on the accuracy of JOYYs public statements concerning its component businesses and financial condition.

More specifically, on Nov. 18, 2020, Muddy Waters Capital published a scathing report, YY: You Cant Make This Stuff Up. WellActually You Can.

According to the report, JOYY is a multibillion-dollar fraud, its component businesses are a fraction of the size it reports, and the companys user metrics, revenues, and cash balances are mostly fraudulent.

Over the course of a year, Muddy Waters conducted a lengthy forensic study of JOYY and concludes approximately 84% of the companys consolidated revenue appears fraudulent, and its YY Live, Bigo, and online dating service are substantially fraudulent.

This news sent the price of JOYY American Depositary Shares crashing lower on Nov. 18, 2020.

Were focused on investors losses and whether JOYY may have misled investors about its operations and financial results, said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you are a JOYY investor and have significant losses, or have knowledge that may assist the firms investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding JOYY 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 844-916-0895 or email JOYY@hbsslaw.com.

About Hagens BermanHagens Berman is a national law firm with nine offices in eight cities around the country, and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

ContactReed Kathrein, 844-916-0895