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Class Action Cases

A class action has been filed on behalf of YAYO Investors. Click "Join this Class Action" above.

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YayYo, Inc.

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Zhang Investor Law announces  a class action lawsuit on behalf of shareholders who bought shares of YayYo, Inc. (OTC: YAYO) pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with YayYo’s November 2019 initial public offering (the “IPO”). The lawsuit seeks to recover damages for YayYo, Inc. investors under the federal securities laws.

If you bought YayYo, Inc. securities pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with YayYo’s November 2019 initial public offering (the “IPO”), and would like to join the action, please click “Join This Class Action,” above.

Press Release

SHAREHOLDER ALERT: Zhang Investor Law Announces a Securities Class Action Lawsuit Against YayYo, Inc. – YAYO

New York, N.Y., September 18, 2020. Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of YayYo, Inc. (OTC: YAYO)  pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with YayYo’s November 2019 initial public offering (the “IPO”)..

To join the YAYO class action, go to http://zhanginvestorlaw.com/cases/yayyo-inc/ call Sophie Zhang, Esq. toll-free at 800-991-3756 or email info@zhanginvestorlaw.com for information on the class action.

Lead plaintiff status is not required to seek compensation.  You may retain counsel of your choice.  You may remain an absent class member and take not action at this time.

According to the lawsuit,  throughout the Class Period (1) defendant El-Batrawi continued to exercise supervision, authority, and control over YayYo, and was intimately involved, on a day-to-day basis, with the business, operations, and finances of the Company, including assisting the Underwriter Defendants in marketing YayYo’s IPO; (2) defendant El-Batrawi never sold the 12,525,000 “Private Shares” and continued to own a controlling interest in YayYo despite the NASDAQ’s insistence that he retain less than a 10% equity ownership interest in connection with the listing agreement; (3) defendants promised certain creditors of YayYo that in exchange to their agreeing to purchase shares in the IPO – in order to permit the Underwriter defendants to close the IPO – YayYo would repurchase those shares after the IPO; (4) defendants intended to repurchase shares purchased by creditors of YayYo in the IPO using IPO proceeds: (5) YayYo owed its former President, CEO, and Director a half of million dollars at the time of the IPO; (6) YayYo owed SRAX, Inc. (formerly Social Reality, Inc.) $426,286 in unpaid social media costs, most of which was more than a year overdue as payment had been delayed while YayYo attempted to complete its IPO; and (7) as a result, defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 9, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://zhanginvestorlaw.com/cases/yayyo-inc/ or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. of Zhang Investor Law toll free at 800-991-3756 or via e-mail at info@zhanginvestorlaw.com.

Zhang Investor Law represents investors worldwide.