NASDAQ: YY

JOYY Inc.

Rosen Law Firm, a global investor rights law firm, announces that it is investigating potential securities claims on behalf of shareholders of JOYY Inc. (NASDAQ: YY) resulting from allegations that JOYY may have issued materially misleading business information to the investing public.

If you purchased JOYY securities and would like to join the prospective action, please click “Join This Class Action.”

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If you purchased JOYY securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of investigation:

On May 31, 2023, JOYY announced their first quarter 2023 unaudited financial results. The average mobile monthly active users (“MAUs”) of Likee decreased by 27.4% to 44.9 million from 61.8 million in the corresponding period of 2022, primarily due to reduced spending on user acquisition via advertisement. The Average mobile MAUs of Hago decreased by 36.5% to 5.9 million from 9.3 million in the corresponding period of 2022, primarily due to reduced spending on user acquisition via advertisement. The net revenue was a reported $583.6 million, compared to $623.8 million in the corresponding period of 2022.

On this news, the price of JOYY’s American Depository Shares (“ADS”) fell $2.07 per ADS, or 7.82%, to close at $24.39 on May 31, 2023.

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Company Name: JOYY Inc.
Stock Symbol: YY
Class Period: N/A
Court: N/A
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The Rosen Law Firm has been ranked among the top 4 law firms each year since 2013 for the number of successful securities class actions on behalf of investors. In 2019 alone, our firm recovered $438 million for investors.

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