CLASS ACTION NOTICE: PINDUODUO INC (拼多多)(PDD)
CLASS ACTION NOTICE: PINDUODUO INC (拼多多)(PDD)
Origin Law, P.C. informs investors that a class action lawsuit has been filed against PDD Holdings Inc., f/k/a Pinduoduo Inc. that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between April 30, 2021 and June 25, 2024. Affected investors are encouraged to participate in this case by submitting the form below.
Case Details
The complaint alleges that the defendants made false statements and/or concealed that: (1) PDD’s applications contained malware designed to collect user data without consent, including accessing private text messages; (2) PDD lacked an effective system to prevent the sale of goods made by forced labor on its platform and has openly sold banned products on its Temu platform; (3) these actions exposed the Company to increased legal and political scrutiny; and (4) consequently, the defendants’ statements regarding the company’s business, operations, and prospects were materially false, misleading, and/or lacked a reasonable basis at all relevant times.
No Cost to You
If you incurred a loss in PDD, you have until October 15, 2024, to request the Court to appoint you as the lead plaintiff. Serving as the lead plaintiff is not required for you to participate in any potential recovery.
In class action lawsuits, investors are represented on a contingency fee basis. This means that attorneys’ fees and out-of-pocket expenses, typically a percentage of the total recovery, will be reimbursed by the court only if the class action is successful.