We are investigating Akazoo S.A. (SONG) (“Akazoo” or the “Company”) for potential violations of the federal securities laws.
On April 20, 2020, Quintessential Capital gave a presentation regarding Akazoo, stating that the Company appeared to have “profoundly overstated” its users, subscribers, revenue and profit. On this news, Akazoo’s stock price fell $0.53 per share, or 20.95%, over the following two trading sessions, closing at $2.00 per share on April 21, 2020.