PR Newswire | Sep 10, 2020 08:53AM EDT

Suffering Losses Encouraged to Contact Firm

09/10 07:52 CDT

LIZI Alert: Johnson Fistel Launches Investigation into Lizhi, Inc.; Investors Suffering Losses Encouraged to Contact Firm SAN DIEGO, Sept. 10, 2020

SAN DIEGO, Sept. 10, 2020 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against Lizhi Inc. ("Lizhi" or the "Company") (NASDAQ: LIZI) for violations of federal securities laws.

On or about January 17, 2020, Lizhi sold about 11 million shares of stock in its initial public stock offering (the "IPO"), at $11.00 a share raising nearly $45.1 million in new capital. However, since the IPO, Lizhi stock has plummeted, on September 9, 2020, the stock closed at $3.83.

Specifically, Johnson Fistel's investigation seeks to determine whether the Company's filings with the U.S. Securities and Exchange Commission in connection with its January 2020 IPO and subsequent investor communications contained untrue statements of material facts or omitted to state other facts necessary to make the statements made therein not misleading concerning the Company's business, and operations.

If you have information that could assist in this investigation, or if you are aLizhi shareholder and are interested in learning more about the investigation, please contact Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:Johnson Fistel, LLPJim Baker, 619-814-4471 jimb@johnsonfistel.com

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SOURCE Johnson Fistel, LLP