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Press release content from Globe Newswire. The AP news staff was not involved in its creation.

LIZI, JFU & CLSK Class Actions: Bronstein, Gewirtz & Grossman LLC Reminds Shareholders ...

March 19, 2021 GMT

NEW YORK, March 19, 2021 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. 

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Lizhi Inc. (NASDAQ: LIZI)
Class Period: securities pursuant and/or traceable to Lizhi’s January 17, 2020 initial public offering (the “IPO” or the “Offering”)
Deadline: March 22, 2021
For more info: www.bgandg.com/lizi
The complaint alleges that the Registration Statement contained false and/or misleading statements and/or failed to disclose that: (1) at the time of the IPO, the coronavirus was already ravaging China, the home base, principal market, and significant hub for Lizhi, its employees, and its customers; (2) the complications associated with the coronavirus were already negatively affecting Lizhi’s business, as employees and customers contracted the virus, lost employment, or otherwise experienced difficulty in generating, publishing, and monetizing the content critical to Lizhi’s platform; (3) even prior to the IPO, Lizhi employees and customers complained of, and to, Lizhi, which harmed the Company’s reputation and financial condition and prospects; and (4) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.

9F Inc. (NASDAQ: JFU)
Class Period: JFU securities (1) pursuant and/or traceable to the registration statement and related prospectus issued in connection with 9F’s August 14, 2019 initial public offering (the “IPO” or “Offering”); and/or (2) purchased between August 14, 2019 and September 29, 2020, both dates inclusive (the “Class Period”)
Deadline: March 22, 2021
For more info: www.bgandg.com/jfu
The complaint alleges that the materials supporting the Offering, and defendants throughout the Class Period, made false and/or misleading statements and/or failed to disclose that: (1) the purported value and benefits of the Company’s financial institution partners and its tri-party cooperation business model did not in fact exist and/or were materially overstated, given that 9F and Property and Casualty Company Limited (“PICC”) had been engaged in an ongoing contractual dispute regarding payment of service fees under the Cooperation Agreement; (2) the collectability of service fees owed to 9F by PICC under the Cooperation Agreement was in doubt and at serious risk of non-payment; (3) there was a significant risk that PICC would no longer provide credit insurance and guarantee protection to investors and institutional funding partners; (4) as a result of the foregoing, the Company’s platform, business model, reputation and financial results had been materially impaired; and (5) as a result, defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. 

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CleanSpark, Inc. (NASDAQ: CLSK)
Class Period: December 31, 2020 - January 14, 2021
Deadline: March 22, 2021
For more info: www.bgandg.com/clsk
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, and failed to disclose to investors that: (1) the Company had overstated its customer and contract figures; (2) several of the Company’s recent acquisitions involved undisclosed related party transactions; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com