{"id":51193,"date":"2021-09-16T06:25:16","date_gmt":"2021-09-16T06:25:16","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=78889"},"modified":"2021-09-16T06:25:16","modified_gmt":"2021-09-16T06:25:16","slug":"rosen-globally-respected-investor-counsel-encourages-yalla-group-limited-investors-to-secure-counsel-before-important-october-12-deadline-in-securities-class-action-yala","status":"publish","type":"post","link":"https:\/\/jordannewsgazette.com\/rosen-globally-respected-investor-counsel-encourages-yalla-group-limited-investors-to-secure-counsel-before-important-october-12-deadline-in-securities-class-action-yala\/","title":{"rendered":"ROSEN, GLOBALLY RESPECTED INVESTOR COUNSEL, Encourages Yalla Group Limited Investors to Secure Counsel Before Important October 12 Deadline in Securities Class Action \u2013 YALA"},"content":{"rendered":"
\n

NEW YORK, Sept. 15, 2021 (GLOBE NEWSWIRE) — WHY: <\/strong>Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Yalla Group Limited (NYSE: YALA) between September 30, 2020 and August 9, 2021, inclusive (the \u201cClass Period\u201d), of the important October 12, 2021 lead plaintiff deadline<\/strong>.<\/p>\n

SO WHAT:<\/strong> If you purchased Yalla securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.<\/p>\n

WHAT TO DO NEXT: <\/strong>To join the Yalla class action, go to http:\/\/www.rosenlegal.com\/cases-register-1987.html<\/a> or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com<\/a> or cases@rosenlegal.com<\/a> for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 12, 2021<\/strong>. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.<\/p>\n

WHY ROSEN LAW: <\/strong>We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. 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 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs\u2019 Bar. Many of the firm\u2019s attorneys have been recognized by Lawdragon and Super Lawyers.<\/p>\n

DETAILS OF THE CASE: <\/strong>According to the lawsuit, defendants throughout the Class Period made materially false and misleading statements regarding the Company\u2019s business and financial metrics. Specifically, Defendants made false and\/or misleading statements regarding, and\/or failed to disclose that the Company overstated its user metrics and revenue and, as a result, the Company\u2019s public statements were materially false and misleading at all relevant times.<\/p>\n

On May 19, 2021, Swan Street Research published a report (the “Swan Street Report”) addressing Yalla, entitled “Is Yalla Group a Multi $B Fraud? The \u2018Clubhouse of the Middle East\u2019 UAE Tech Unicorn that Never Was.” The Swan Street Report alleged, among other things, that the Company has been inflating its financial metrics, including its user data and its revenue, and characterized Yalla\u2019s financial statements as “not credible.” On this news, the price of Yalla shares fell $1.31 per share, or 7.15%, to close at $17.01 per share on May 19, 2021.<\/p>\n

The next day, May 20, 2021, analyst The Bear Cave issued a report entitled, “Problems at Yalla Group[.]\u201d On this news, the price of Yalla shares fell an additional 6% on May 20 to close at $15.96.<\/p>\n

Then, on August 9, 2021, after the markets closed, Yalla issued a press release entitled, “Yalla Group Limited Announces Unaudited Second Quarter 2021 Financial Results,” announcing its financial results for the second quarter of 2021 (“2Q21 Results”). The 2Q21 Results disclosed that Yalla had quarterly revenue of $66.62 million, which did not meet analysts\u2019 expectations. On this news, the price of Yalla shares fell 18% on August 10, 2021, closing at $10.99, down from its previous close price of $13.55.<\/p>\n

To join the Yalla class action, go to http:\/\/www.rosenlegal.com\/cases-register-1987.html<\/a> or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com<\/a> or cases@rosenlegal.com<\/a> for information on the class action.<\/p>\n

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor\u2019s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.<\/p>\n

Follow us for updates on LinkedIn: https:\/\/www.linkedin.com\/company\/the-rosen-law-firm<\/a>, on Twitter: https:\/\/twitter.com\/rosen_firm<\/a> or on Facebook: https:\/\/www.facebook.com\/rosenlawfirm\/<\/a>.<\/p>\n

Attorney Advertising. Prior results do not guarantee a similar outcome.<\/p>\n

Contact Information:<\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Laurence Rosen, Esq.
\nPhillip Kim, Esq.
\nThe Rosen Law Firm, P.A.
\n275 Madison Avenue, 40th Floor
\nNew York, NY 10016
\nTel: (212) 686-1060
\nToll Free: (866) 767-3653
\nFax: (212) 202-3827
\nlrosen@rosenlegal.com<\/a>
\npkim@rosenlegal.com<\/a>
\ncases@rosenlegal.com<\/a>
\nwww.rosenlegal.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, Sept. 15, 2021 (GLOBE NEWSWIRE) \u2014 WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Yalla Group Limited (NYSE: YALA) between September 30, 2020 and August 9, 2021, inclusive (the \u201cClass Period\u201d), of the important October 12, 2021 lead plaintiff deadline. SO WHAT: If you purchased [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,52,415],"tags":[],"yoast_head":"\nROSEN, GLOBALLY RESPECTED INVESTOR COUNSEL, Encourages Yalla Group Limited Investors to Secure Counsel Before Important October 12 Deadline in Securities Class Action \u2013 YALA - Jordan News Gazette<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jordannewsgazette.com\/rosen-globally-respected-investor-counsel-encourages-yalla-group-limited-investors-to-secure-counsel-before-important-october-12-deadline-in-securities-class-action-yala\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ROSEN, GLOBALLY RESPECTED INVESTOR COUNSEL, Encourages Yalla Group Limited Investors to Secure Counsel Before Important October 12 Deadline in Securities Class Action \u2013 YALA - Jordan News Gazette\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, Sept. 15, 2021 (GLOBE NEWSWIRE) \u2014 WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Yalla Group Limited (NYSE: YALA) between September 30, 2020 and August 9, 2021, inclusive (the \u201cClass Period\u201d), of the important October 12, 2021 lead plaintiff deadline. 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