DOYU Investors Have Opportunity to Lead DouYu International Holdings Limited Securities Fraud Lawsuit

LOS ANGELES, July 26, 2023 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against DouYu International Holdings Limited ("DouYu" or the "Company") (NASDAQ: DOYU).

Class Period: April 30, 2021 – May 9, 2023

Lead Plaintiff Deadline: August 8, 2023

If you wish to serve as lead plaintiff of the DouYu lawsuit, you can submit your contact information at www.glancylaw.com/cases/DouYu-International-Holdings-Limited-1/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) The Chinese government, due to concerns about issues such as video game and computer addiction, as well as content challenging its authority, could become increasingly aggressive towards DouYu regardless of how effective or sincere its attempts to comply with Chinese law were; (2) This increasingly aggressive posture subjected DouYu to a heightened risk of an investigation and subsequent government enforcement action and ultimately resulted in enforcement action; and (3) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com.  If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

SOURCE Glancy Prongay & Murray LLP