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INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against Opera Limited

January 18, 2020 GMT

NEW YORK--(BUSINESS WIRE)--Jan 17, 2020--

The law firm of Kirby McInerney LLP is investigating potential claims against Opera Limited (“Opera” or the “Company”) (NASDAQ: OPRA ). This investigation concerns whether Opera has violated federal securities laws and/or engaged in other unlawful business practices.

On January 16, 2020, Hindenburg Research published a report alleging that Opera’s microfinancing app is in violation of the Google Play Store’s policies on predatory, short-term lending and misleading apps. The report also alleges that Opera’s chairman and CEO, Yahui Zhou, diverted $40 million of company proceeds to entities owned or influenced by Zhou through a series of questionable related-party transactions that were not adequately disclosed to investors.

On this news, the price of Opera American Depository Receipts (“ADRs”) fell $1.69, or 18.7%, to close at $7.33 on January 16, 2020.

If you acquired Opera securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.

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

View source version on businesswire.com:https://www.businesswire.com/news/home/20200117005488/en/

CONTACT: Kirby McInerney LLP

Thomas W. Elrod, Esq.

(212) 371-6600

investigations@kmllp.com

www.kmllp.com

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Kirby McInerney LLP

Copyright Business Wire 2020.

PUB: 01/17/2020 07:55 PM/DISC: 01/17/2020 07:55 PM

http://www.businesswire.com/news/home/20200117005488/en