Tencent Music Entertainment Group
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
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CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
Reuters reported on July 12, 2021 that China’s State Administration of Market Regulation, the country’s antitrust regulator, was “set to order the music streaming arm of Tencent Holdings Ltd. to give up exclusive rights to music labels which it has used to compete with smaller rivals”, citing “people with knowledge of the matter.” It is further reported in this article that the SAMR “will also fine [Tencent] 500,000 yuan ($77,150) for lapses in reporting the acquisitions of apps Kuwo and Kugou.” Tencent’s American Depositary Receipt (“ADR”) price fell $0.54 per ADR, or 4.19%, on this news, to close at $12.34 per ADR on July 12, 2021.
