GlobeNewswire Inc | Dec 29, 2020 11:08AM EST

December 29, 2020

BENSALEM, Pa., Dec. 29, 2020 (GLOBE NEWSWIRE) --

Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.

Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

Alibaba Group Holding Limited (NYSE: BABA)Class Period: July 20, 2020 - November 3, 2020Lead Plaintiff Deadline: January 12, 2021

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Ant Group did not meet listing qualifications or disclosure requirements for certain material matters; (2) that certain impending changes in the Fintech regulatory environment would impact Ant Groups business; (3) that, as a result of the foregoing, Ant Groups IPO was reasonably likely to be suspended; and (4) that, as a result of the foregoing, Defendants positive statements about the Companys business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Biogen, Inc. (NASDAQ:BIIB)Class Period: October 22, 2019- November 6, 2020Lead Plaintiff Deadline: January 12, 2021

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the larger dataset did not provide necessary data regarding aducanumabs effectiveness; (2) the EMERGE study did not and would not provide necessary data regarding aducanumabs effectiveness; (3) the PRIME study did not and would not provide necessary data regarding aducanumabs effectiveness; (4) the data provided by the Company to the FDAs Peripheral and Central Nervous System Drugs Advisory Committee did not support finding efficacy of aducanumab; and (5) as a result, Defendants statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

JOYY Inc. (NASDAQ: YY) Class Period: April 28, 2016 - November 18, 2020Lead Plaintiff Deadline: January 19, 2021

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) JOYY dramatically overstated its revenues from live streaming sources; (2) the majority of users at any given time were bots; (3) the Company utilized these bots to effect a roundtripping scheme that manufactured the false appearance of revenues; (4) the Company overstated its cash reserves; (5) the Companys acquisition of Bigo was largely contrived to benefit corporate insiders; and (6) as a result, Defendants public statements were materially false and/or misleading at all relevant times.

K12 Inc. (NYSE:LRN)Class Period: April 27, 2020 - September 18, 2020Lead Plaintiff Deadline: January 19, 2021

Shareholders with losses exceeding $100,000 are encouraged to contact the firm

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) K12 lacked the technological capabilities, infrastructure, and expertise to support the increased demand for virtual and blended education necessitated by the global pandemic; (2) K12 lacked adequate cyberattack protocols and protections to prevent the disabling of its computer systems; (3) K12 was unable to provide the necessary levels of administrative support and training to teachers, students, and parents; and (4) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish tolearn moreabout these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email tohowardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

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ContactsLaw Offices of Howard G. SmithHoward G. Smith, Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com