NEW YORK, Nov. 18, 2019 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Tencent Music Entertainment Group ("Tencent" or the "Company") (NYSE: TME). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Tencent and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 27, 2019, Bloomberg reported that the State Administration of Market Regulation, China's antitrust authority, is investigating exclusive licensing deals between Tencent and major record labels including Universal Music Group, Sony Music Entertainment, and Warner Music Group.
On this news, Tecent's American depositary receipt price fell $0.92 per share, or 6.83%, to close at $12.57 per share on August 27, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP