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Tencent Music Entertainment Group

Company NameTencent Music Entertainment Group
Stock SymbolTME
Class PeriodDecember 12, 2018 to August 26, 2019
Lead Plaintiff Motion DeadlineNovember 25, 2019

On August 27, 2019, Bloomberg reported that China’s antitrust authority is investigating exclusive licensing deals between Tencent and major record labels including, Universal Music Group, Sony Music Entertainment, and Warner Music Group. 

On this news, Tencent’s American depositary receipt price fell $0.92 per share, or nearly 7%, to close at $12.57 per share on August 27, 2019, thereby injuring investors.

 

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