NEW YORK, Nov. 22, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of buyers of Lizhi Inc. (“Lizhi” or the “Firm”) (NASDAQ: LIZI). Such buyers are suggested to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation issues whether or not Lizhi and sure of its officers and/or administrators have engaged in securities fraud or different illegal enterprise practices.

[Click here for information about joining the class action]

On or round January 17, 2020, Lizhi carried out its preliminary public providing (“IPO”), issuing 4.1 million American depositary shares (“ADSs”) priced at $11.00 per ADS. On November 9, 2020, post-market, Lizhi disclosed its monetary outcomes for the third quarter of 2020, which included income of $53.24 million, $0.77 million decrease than consensus estimates.

On this information, Lizhi’s inventory value fell $0.25 per share, or 10.5%, to shut at $2.13 per share on November 10, 2020.

The Pomerantz Agency, with workplaces in New York, Chicago, Los Angeles, and Paris is acknowledged as one of many premier companies within the areas of company, securities, and antitrust class litigation. Based by the late Abraham L. Pomerantz, often called the dean of the category motion bar, the Pomerantz Agency pioneered the sector of securities class actions. At this time, greater than 80 years later, the Pomerantz Agency continues within the custom he established, combating for the rights of the victims of securities fraud, breaches of fiduciary obligation, and company misconduct. The Agency has recovered quite a few multimillion-dollar damages awards on behalf of sophistication members. See www.pomerantzlaw.com.

CONTACT:Robert S. Willoughby

Pomerantz LLP

rswilloughby@pomlaw.com

888-476-6529 ext. 7980