INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against Opera Limited
January 17 2020 - 7:55PM
Business Wire
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200117005488/en/
Kirby McInerney LLP Thomas W. Elrod, Esq. (212) 371-6600
investigations@kmllp.com www.kmllp.com
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