Akazoo S.A.

Period: 09/11/2019 to 04/20/2020
Lead Plaintiff Deadline: 06/23/2020

SUMMARY OF CASE:

A securities class action has been filed against Akazoo S.A. (SONG) on behalf of a class consisting of all persons and entities who purchased or otherwise acquired the publicly traded securities of Akazoo between September 11, 2019 through April 20, 2020.  This case has been filed in the USDC – E.D.N.Y.

The Complaint alleges  on April 20, 2020, Quintessential Capital gave a presentation regarding Akazoo, stating that the Company looks like an accounting scheme because its users, subscribers, revenue and profit may be “profoundly overstated.”

On this news, Akazoo’s share price fell as much as $0.71, or over 26%, during intraday trading on April 20, 2020.