DOUYU DEADLINE ALERT

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In DouYu International Holdings Limited To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in DouYu International Holdings Limited (“DouYu” or the “Company”) (NASDAQ:DOYU) of the May 26, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in DouYu stock or options pursuant and/or traceable to the Company’s July 16, 2019 IPO and would like to discuss your legal rights, click here: http://www.faruqilaw.com/DOYU. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [e-mail].

The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased DouYu American Depository Shares (“ADSs”) pursuant and/or traceable to the Company’s July 16, 2019 Initial Public Offering (“IPO”). The case, Liang v. DouYu International Holdings Limited et al., Docket No. 2:20-cv-02747 was filed on March 24, 2020.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) DouYu’s risks related to its top streamers had materialized, including that: (a) a top streamer was actively misrepresenting herself on DouYu’s platform; and (b) the costs associated with retaining top streamers was swelling; (2) DouYu did not ensure that all of its products were fully compliant with current regulatory requirements before those products became available on line; and (3) key interactive features of DouYu’s “lucky draw” were noncompliant with current regulatory requirements, requiring DouYu to remove them from operations, which negatively impacted user engagement activity and caused disappointing financial results.

On July 31, 2019, Mic.com also published a story, titled “Popular Chinese DouYu streamer revealed to be much older thanks to livestream glitch” (the “Mic Article”), on the glitch that revealed the true identity of Qiao Biluo whose DouYu users “fawned over the videos and photos that she uploaded . . ., which showed a young woman posing, playing games, and talking to the camera.”

According to the Mic Article, “the revelation caused a considerable amount of drama, with many of her male subscribers expressing outrage that they had been tricked. They left the stream in droves, unsubscribed from her account and pulled donations.”