Tencent Music Entertainment Group
Company Name | Tencent Music Entertainment Group |
Stock Symbol | TME |
Class Period | December 12, 2018 to August 26, 2019 |
Lead Plaintiff Motion Deadline | November 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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