NEW YORK, Aug. 15, 2020 (GLOBE NEWSWIRE) – Rosen Law Firm, a global investor rights law firm, has announced that it has filed a class action lawsuit on behalf of buyers of the securities of YayYo, Inc. (OTC PINK: YAYO), as of November The company's IPO (“IPO” or “Offer”) carried out in 2019 and / or traceable. The lawsuit seeks to seek damages for YayYo investors under federal securities laws.
To participate in the YayYo class action lawsuit, go to http://www.rosenlegal.com/cases-register-1915.html or call Phillip Kim, Esq. toll free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information about the class action.
NO CLASS HAS BEEN CERTIFIED IN THE ABOVE PROMOTION. Until a class is certified, you will not be represented by the advisor unless you keep one. You can keep the advice of your choice. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. An investor's ability to get involved in a potential future recovery does not depend on being the lead plaintiff.
According to the lawsuit, the IPO registration statement contained false and / or misleading statements and / or did not reveal the following: (1) Founder and former CEO El-Batrawi continued to exercise direct and / or indirect oversight, authority and control over YayYo and was daily closely related to the business, operations and finances of the company, including assisting the underwriters in promoting the initial public offering of YayYo from Westpark's Los Angeles offices; (2) El-Batrawi never sold his 12,525,000 "private shares" and continued to own a controlling interest in YayYo, despite NASDAQ insisting that he held less than 10% of the shares in connection with the listing agreement. (3) Certain creditors of YayYo were promised that in return for their consent to purchase shares in the IPO (to allow subscribers to complete the IPO), YayYo would repurchase those shares from them after the IPO using the proceeds from the IPO ; (4) Defendants intended to repurchase shares purchased by creditors of YayYo as part of the IPO using IPO proceeds; (5) YayYo owed its former president, CEO, and director half a million dollars at the time of going public. and (6) YayYo owed Social Reality, Inc. $ 426,286 in unpaid social media costs, most of which were over a year past due and payment was delayed while YayYo attempted to complete the IPO. When the real details hit the market, the lawsuit alleged that investors suffered damage.
A class action lawsuit has already been filed. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. To join the litigation, visit http://www.rosenlegal.com/cases-register-1915.html or contact Phillip Kim, Esq. To discuss your rights or interests regarding this class action lawsuit . the law firm Rosen free of charge at 866-767-3653 or by email at firstname.lastname@example.org or email@example.com.
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Rosen law firm represents investors around the world and focuses on class action and shareholder derivatives litigation. Rosen law firm was ranked # 1 by ISS Securities Class Action Services for number of class action settlements in 2017. The firm has been voted one of the top 3 every year since 2013. Law firm Rosen has achieved its largest ever class action lawsuit for securities against a Chinese company. Rosen Law Firm's attorneys are ranked and recognized by numerous independent and reputable sources. Rosen law firm has raised hundreds of millions of dollars for investors. Lawyer advertising. Previous results do not guarantee a similar result.
Laurence Rosen, Esq.
Phillip Kim, Esq.
The law firm Rosen, P.A.
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