The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of DouYu International Holdings Limited (“DouYu” or “the Company”) (NASDAQ: DOYU) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. DouYu issued a press release on May 9, 2023, disclosing that the “Hubei provincial branch of the Cyberspace Administration of China (the ‘CAC’) has sent an inspection team to the Company due to certain alleged violations of content rules and regulations on its platform. The CAC team is expected to conduct a one-month on-site inspection of the Company’s content platform, which DouYu will fully cooperate with. DouYu is also concurrently conducting a comprehensive internal review of its content monitoring system. As a platform committed to regulatory compliance and the safety of its user community, DouYu plans to implement all necessary remedial measures based on the CAC inspection and its own internal review.”
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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