NEW YORK–(BUSINESS WIRE)–#TencentMusicEntertainment–Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Tencent Music Entertainment Group (NYSE: TME) on behalf of Tencent stockholders. Our investigation concerns whether Tencent has violated the federal securities laws and/or engaged in other unlawful business practices.
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On March 12, 2021, Bloomberg published an article entitled “Tencent Faces Broad China Clampdown on Fintech, Deals,” reporting that “China’s top financial regulators see Tencent as the next target for increased supervision after the clamp down” on Ant Group Co. As a result, the Company would “probably be required to establish a financial holding company to include its banking, insurance, and payments services.”
On this news, the Company’s American Depositary Receipts (“ADRs”) price fell as much as $7, or nearly 8%, on March 12, 2021.
If you purchased or otherwise acquired Tencent shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.