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SHAREHOLDER ALERT: Holzer & Holzer Announces that a Class Action Was Filed on Behalf of Lizhi Investors and Encourages Investors With Significant Losses to Contact the Firm

Newsfile Corp.
·2 min read

Atlanta, Georgia--(Newsfile Corp. - January 21, 2021) - Holzer & Holzer, LLC announces that a class action lawsuit has been filed on behalf of investors who purchased Lizhi, Inc. (NASDAQ: LIZI) ("Lizhi" or the "Company") securities traceable to the Company's January 17, 2020 initial public offering (the "IPO").

The complaint alleges defendants made false and/or misleading statements and/or failed to disclose that: (1) at the time of the IPO, the coronavirus was already spreading in China, the home base, principal market, and significant hub for Lizhi, its employees, and its customers; (2) the complications associated with the coronavirus were already negatively affecting Lizhi's business; (3) prior to the IPO, Lizhi employees and customers complained of, and to, Lizhi, which harmed the Company's reputation and financial condition and prospects; and (4) as a result, the Company's public statements were materially false and misleading at all relevant times.

If you purchased shares of Lizhi securities traceable to the January 17, 2020 IPO and suffered significant losses on that investment, you are encouraged to contact Marshall P. Dees, Esq. at mdees@holzerlaw.com or Luke R. Kennedy, Esq. at lkennedy@holzerlaw.com, or through www.holzerlaw.com to discuss your legal rights.

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Holzer & Holzer, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey D. Holzer is the attorney responsible for its content.

CONTACT:
Corey D. Holzer, Esq.
(888) 508-6832 (toll-free)
cholzer@holzerlaw.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/72526