Law Offices of Howard G. Smith announces an investigation on behalf of Yalla Group Limited (“YALA” or the “Company”) (NYSE: YALA) investors concerning the Company’s possible violations of federal securities laws.
On May 19, 2021, Swan Street Research published a report alleging, among other things, that Yalla inflated its financial metrics, including its user data and its revenue, and characterized Yalla’s financial statements as “not credible.”
On this news, the Company’s share price fell $1.31, or 7%, to close at $17.01 per share on May 19, 2021.
Then, on May 20, 2021, The Bear Cave published a report and Gotham City Research tweeted that it was shorting Yalla.
On this news, the Company’s share price fell 6% to close at $15.96 per share on May 20, 2021.
Then, on August 9, 2021, after the market closed, Yalla announced its second quarter 2021 financial results, reporting revenue of $66.62 million, which fell below analysts’ expectations.
On this news, the Company’s share price fell approximately 19% to close at $10.99 per share on August 10, 2021.
If you purchased Yalla securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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