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Fly Intel: After-Hours Movers » 18:3003/1403/14/22
ID, GTLB, CANO, YALA, WPRT, COUP, DLO, LIFE, ANAB, EXEL
Check out this evening's…
Yalla reports Q4 EPS 16c vs. 15c last year » 17:1403/1403/14/22
Reports Q4 revenue…
Reports Q4 revenue $67.6M, one estimate $71.3M. "2021 was a remarkable year for Yalla. We made tremendous progress in expanding our product portfolio, establishing an integrated ecosystem and elevating the rich diversity of our business and its services to new heights," said Mr. Yang Tao, Founder, Chairman and CEO of Yalla. "Of special note, we successfully launched the MENA region's first-ever social metaverse app, WAHA, enabling our users to enjoy immersive, 3D social scenes. We also recently released YallaChat version 0.3, iterating our IM product with new features tailored to MENA's local user preferences. Moreover, our game distribution business progressed smoothly, with investments in mid-core to hard-core game projects. As always, we strive to broaden our product range through diverse developments, investments and collaborations devoted to fulfilling MENA users' evolving online social networking and entertainment needs."
Yalla announces dismissal of securities class action lawsuit » 18:0201/1901/19/22
Yalla Group announced…
Yalla Group announced that the lead plaintiffs in a securities class action lawsuit against the company and its CEO voluntarily dismissed the lawsuit on January 12, which marks a successful and final conclusion of the lawsuit for the company. The lawsuit arose from certain short-seller reports issued in May 2021 that contained numerous errors as well as distorted, misleading and unsubstantiated claims regarding the company. While the company publicly refuted the claims in the short-seller reports, a putative securities class action lawsuit was filed against the company and its CEO in the United States based on the claims in the short-seller reports, claiming that the company had violated U.S. securities laws. The U.S. court presiding over this lawsuit ordered the lead plaintiffs and their attorneys to file an amended complaint by January 7. After several months of preparation, the lead plaintiffs and their attorneys failed to file an amended complaint by the deadline set by the court. Instead, the lead plaintiffs and their attorneys elected not to further pursue this lawsuit and voluntarily dismissed the lawsuit on January 12, agreeing to bear their own litigation costs. Lead plaintiffs are barred from refiling the same claims. The voluntary dismissal equally applies to all claims asserted against the company's CEO, who was named a co-defendant in the lawsuit. The court approved the lead plaintiffs' voluntary dismissal on January 13, and the lawsuit is terminated. Throughout the process, the company maintained that the lawsuit had no factual basis. The company believes the decision of the lead plaintiffs and their attorneys to voluntarily dismiss all of their claims after several months of preparation supports the company's position that claims in the short-seller reports are groundless.
Yalla rises 13.5% » 12:0011/1511/15/21
Yalla is up 13.5%, or…
Yalla is up 13.5%, or $1.13 to $9.51.