GlobeNewswire Inc | Nov 19, 2020 04:14PM EST

November 19, 2020

NEW YORK, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Lizhi Inc. (NASDAQ: LIZI) resulting from allegations that Lizhi may have issued materially misleading business information to the investing public.

On or around January 17, 2020, Lizhi conducted its initial public offering ("IPO"), issuing 4.1 million American depositary shares ("ADSs") priced at $11.00 per ADS. Since the IPO, Lizhi's ADS price has fallen precipitously.

On November 9, 2020, after the market closed, 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, Lizhis stock price fell $0.25 per share, or 10.5%, to close at $2.13 per share on November 10, 2020.

Rosen Law Firm is preparing a securities lawsuit on behalf of Lizhi shareholders. If you purchased securities of Lizhi please visit the firms website at http://www.rosenlegal.com/cases-register-1986.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firms attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Contact Information:

Laurence Rosen, Esq.Phillip Kim, Esq.The Rosen Law Firm, P.A.275 Madison Avenue, 40th FloorNew York, NY 10016Tel: (212) 686-1060Toll Free: (866) 767-3653Fax: (212) 202-3827lrosen@rosenlegal.compkim@rosenlegal.comcases@rosenlegal.comwww.rosenlegal.com