This lawsuit is for anyone who acquired securities in YayYo, Inc. (OTC: YAYO) from November 13, 2019 through September 9, 2020.
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, in the Prospectus to the Company's IPO, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors and the NASDAQ to believe that the Company would follow proper corporate governance required of a publicly traded Company, in order to list on the NASDAQ and raise capital, all the while planning not to follow those guidelines once the Company raised the capital. The Company's misrepresentations are evidenced by, among other things, the fact that its founder and CEO agreed to step down and give up control of the Company as a prerequisite for the NASDAQ listing the Company and then, soon after the Company completed the offering, the Company announced that it would go back to being private and that the CEO had never actually given up control of the Company.
On February 10, 2020, the Company announced that its Board of Directors had decided to delist YayYo’s common stock from the NASDAQ. As a result, the stock price dropped precipitously and currently trades at a price much lower than it did at the time of the Company's IPO.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in YayYo, Inc. (OTC: YAYO) from November 13, 2019 through September 9, 2020 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Join the Class Action
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I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.