GlobeNewswire Inc | Sep 29, 2020 06:00PM EDT

September 29, 2020

NEW YORK, Sept. 29, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Lizhi, Inc. (NASDAQ: LIZI) on behalf of Lizhi stockholders. Our investigation concerns whether Lizhi has violated the federal securities laws and/or engaged in other unlawful business practices.

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On or aroundJanuary 17, 2020, Lizhi conducted its initial public offering (IPO), issuing 4.1 million American depositary shares (ADSs) priced at$11.00per ADS.

Since the IPO, Lizhis ADS price has fallen precipitously, closing at$2.77per ADS onSeptember 22, 2020, representing a decline of 74.82% from the IPO price.

If you purchased or otherwise acquired Lizhi shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About BragarEagel & Squire, P.C.:Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:Bragar Eagel & Squire, P.C.Brandon Walker, Esq.Melissa Fortunato, Esq.Marion Passmore, Esq. (212) 355-4648investigations@bespc.comwww.bespc.com