An investigation on behalf of current long term investors in Momo Inc. (NASDAQ: MOMO) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 07/22/2019 -- An investigation concerning potential breaches of fiduciary duties by certain directors and officers of Momo Inc. was announced.
Investors who are current long term investors in Momo Inc. (NASDAQ: MOMO) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: MOMO stocks follows a lawsuit filed against Momo Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: MOMO stocks, concerns whether certain Momo Inc directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between April 21, 2015 and April 29, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Momo's compliance procedures and controls were inadequate to prevent, inter alia, illicit financial reporting activity, that Momo's social and dating app, Tantan, was materially noncompliant with PRC law and/or regulations, that Tantan was consequently at an increased risk of being removed from Chinese app stores at the direction of Chinese governmental authorities, and that as a result, Momo's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Momo Inc. (NASDAQ: MOMO) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.