NEW YORK, June 27, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Momo Inc. (NASDAQ: MOMO) from April 21, 2015 through April 29, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Momo investors under the federal securities laws.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 15, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://pawarlawgroup.com/cases/momo-inc/ or to discuss your rights or interests regarding this class action, please contact Vik Pawar, Esq. of Pawar Law Group toll free at 888-589-9804 or via e-mail at info@pawarlawgroup.com.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Momo’s compliance procedures and controls were inadequate to prevent illicit financial reporting activity; (2) Momo’s social and dating app, Tantan, was materially noncompliant with PRC law and/or regulations; (3) Tantan was consequently at an increased risk of being removed from Chinese app stores at the direction of Chinese governmental authorities; and (4) as a result, Momo’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

No class has been certified.  Until a class is certified, you are not represented by counsel unless you hire one.  You may hire counsel of your choice.  You may also do nothing at this time and be an absent member of the class.  Your ability to share in any future recovery is not dependent upon being a lead plaintiff.  Attorney Advertising.  Past results do not guarantee future results.

Pawar Law Group represents investors from around the world.

Contact:  
Vik Pawar, Esq.  
Pawar Law Group  
20 Vesey Street, Suite 1210  
New York, NY 10007  
Tel: (917) 261-2277  
Fax: (212) 571-0938  
info@pawarlawgroup.com