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ACCESSWIRE 25-Jan-2023 11:01 AM
NEW YORK, NY / ACCESSWIRE / January 25, 2023 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Full Truck Alliance Co. Ltd. ("Full Truck" or the "Company") (NYSE:YMM). Investors who purchased Full Truck securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/ymm.
The investigation concerns whether Full Truck has violated federal securities laws.
On January 24, 2023, J Capital Research ("J Capital") published a report on Full Truck asserting that the Company "has the hallmarks of notorious Chinese round-tripping schemes," opining that its "transactions might be overstated by 6-10x." Among other allegations, J Capital stated that "[f]ormer salespeople have told us they set up shell companies to churn bank loans back and forth. These boomerang transactions would create the appearance of rising transaction volumes."; that Full Truck's "reported revenue and transaction volumes don't line up with tax payments, commission revenue, or basic logic"; and that the Company's "acquisitions look highly suspicious." On this news, Full Truck's American Depositary Receipt ("ADR") price fell $0.57 per ADR, or 6.16%, to close at $8.68 per ADR on January 24, 2023.
If you are aware of any facts relating to this investigation or purchasedFull Truck shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/ymm. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | firstname.lastname@example.org
SOURCE: Bronstein, Gewirtz & Grossman, LLC