YALLA ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That A Class Action Lawsuit …

NEW YORK, October 09, 2021--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally acknowledged stockholder rights legislation agency, reminds traders {that a} class motion lawsuit has been filed in opposition to Yalla Group Restricted ("Yalla" or the "Firm") (NYSE: YALA) in the US District Court docket for the Southern District of New York on behalf of all individuals and entities who bought or in any other case acquired Yalla securities between September 30, 2020 and August 9, 2021, each dates inclusive (the "Class Interval"). Buyers have till October 12, 2021 to use to the Court docket to be appointed as lead plaintiff within the lawsuit.

Click on here to take part within the motion.

On Could 19, 2021, Swan Road Analysis ("Swan Road") revealed a report (the "Swan Road Report") addressing Yalla, entitled "Is Yalla Group a Multi $B Fraud? The ‘Clubhouse of the Center East’ UAE Tech Unicorn that By no means Was." The Swan Road Report alleged, amongst different issues, that the Firm has been inflating its monetary metrics, together with its person knowledge and its income, and characterised Yalla’s monetary statements as "not credible." On this information, the worth of Yalla shares fell $1.31 per share, or 7.15%, to shut at $17.01 per share on Could 19, 2021.

The following day, Could 20, 2021, analyst The Bear Cave issued a report entitled, "Issues at Yalla Group," and Gotham Metropolis Analysis additionally tweeted that it was shorting Yalla shares. On this information, the worth of Yalla shares fell a further 6% on Could 20 to shut at $15.96.

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