YAYO, LX & GOL Class Action Reminders: Bronstein, Gewirtz & Grossman LLC Reminds Investors of Class Actions and Looming Lead Plaintiff Deadlines

Bronstein, Gewirtz & Grossman, LLC
·4-min read

NEW YORK, Oct. 29, 2020 (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.

YayYo, Inc. (OTC: YAYO)
Class Period: YayYo securities pursuant and/or traceable to the Company’s initial public offering conducted on November 14, 2019 (the “IPO” or “Offering”).
Deadline: November 9, 2020
For more info: www.bgandg.com/yayo
The Complaint alleges that the IPO Registration Statement featured false and/or misleading statements and/or failed to disclose that: (1) defendant Ramy El-Batrawi ("El-Batrawi ") continued to exercise supervision, authority, and control over YayYo, and was intimately involved, on a day-to-day basis, with the business, operations, and finances of the Company, including assisting the Underwriter Defendants in marketing YayYo's IPO; (2) defendant El-Batrawi never sold the 12,525,000 "Private Shares" and continued to own a controlling interest in YayYo despite the NASDAQ's insistence that he retain less than a 10% equity ownership interest in connection with the listing agreement; (3) defendants promised certain creditors of YayYo that in exchange to their agreeing to purchase shares in the IPO - in order to permit the Underwriter defendants to close the IPO - YayYo would repurchase those shares after the IPO; (4) defendants intended to repurchase shares purchased by creditors of YayYo in the IPO using IPO proceeds: (5) YayYo owed its former President, CEO, and Director a half of million dollars at the time of the IPO; (6) YayYo owed SRAX, Inc. (formerly Social Reality, Inc.) $426,286 in unpaid social media costs, most of which was more than a year overdue as payment had been delayed while YayYo attempted to complete its IPO; and (7) 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. When the true details entered the market, the lawsuit claims that investors suffered damages.

LexinFintech Holdings Ltd. (NASDAQ: LX)
Class Period: LexinFintech securities aquired (a) pursuant and/or traceable to the Company' s initial public offering conducted on or about December 21, 2017 (the "IPO" or `Offering"); or b) purchased or otherwise acquired LexinFintech between December 21, 2017 through August 24, 2020, both dates inclusive (the “Class Period”).
Deadline: November 9, 2020
For more info: www.bgandg.com/lx
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) LexinFintech Holdings Ltd. reported artificially low delinquency rates by giving borrowers in default new funds to make payments; (2) the Company's business model exposes shareholders to enormous losses by prioritizing Chinese lenders for off-balance sheet loans; (3) the Company exaggerated its user base; (4) the Company was facilitating direct peer to peer lending contrary to Chinese law; (5) the Company engaged in undisclosed related party transactions; (6) the Company lacked adequate internal controls; and (7) as a result, defendants' public statements were materially false and/or misleading at all relevant times.

Gol Linhas Aereas Inteligentes S.A. (NYSE: GOL)
Class Period: March 14, 2019 - July 22, 2020
Deadline: November 10, 2020
For more info: www.bgandg.com/gol
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Gol had material weaknesses in its internal controls; (2) there was substantial doubt as to the Company’s ability to continue to exist as a going concern because of negative net working capital and net capital deficiency; and (3) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant time.

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