SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Bilibili Inc. - BILI
NEW YORK, Oct. 9, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Bilibili Inc. ("Bilibili" or the "Company") (NASDAQ: BILI). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Bilibili and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 8, 2023, media outlets reported that Bilibili had abruptly removed its mobile game Uma Musume Pretty Derby from online stores, citing the "need for technical upgrades." However, industry observers noted that the game's inclusion of characters known as "horse girls"—i.e., female characters with horse ears and tails—is reminiscent of horse racing, making the game subject to interpretation as promoting illegal gambling activities in violation of Chinese gaming regulations.
On this news, Bilibili's American Depositary Share ("ADS") price fell $0.74 per ADS, or 5.17%, to close at $13.56 per share on September 8, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
