PDD Holdings Inc. f/k/a Pinduoduo Inc. (PDD) Investigation: Bronstein, Gewirtz & Grossman, LLC Encourages Investors to Seek Compensation for Alleged Wrongdoings

Globe Newswire 9-Jul-2024 6:38 PM

NEW YORK, July 09, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of PDD Holdings Inc. f/k/a Pinduoduo Inc. ("PDD" or "the Company") (NASDAQ:PDD). Investors who purchased PDD securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/PDD.

Investigation Details

On June 25, 2024, Arkansas Attorney General Tim Griffin announced a lawsuit against the Temu online marketplace, owned and operated by PDD, alleging violations of the Arkansas Personal Information Protection Act. Attorney General Griffin described Temu as "functionally malware and spyware . . . purposefully designed to gain unrestricted access to a user's phone operating system" in order to "monetize[] [the] unauthorized collection of data." On this news, PDD's American depositary receipt ("ADR") price fell $8.06 per ADR, or 5.77%, over the following two trading sessions, to close at $131.94 per ADR on June 27, 2024.

What's Next?

If you are aware of any facts relating to this investigation or purchased PDD securities, you can assist this investigation by visiting the firm's site: bgandg.com/PDD. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contact

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | info@bgandg.com