PDD Investors Have Opportunity to Lead PDD Holdings Inc. Securities Fraud Lawsuit

PRNewswire 11-Sep-2024 10:35 PM

LOS ANGELES, Sept. 11, 2024 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against PDD Holdings Inc. ("PDD" or the "Company") (NASDAQ:PDD).

Class Period: April 30, 2021 – June 25, 2024
Lead Plaintiff Deadline: October 15, 2024

If you are a shareholder who suffered a loss, click here to participate.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) PDD's applications contained malware, which was designed to obtain user data without the user's consent, including reading private text messages; (2) PDD has no meaningful system to prevent goods made by forced labor from being sold on its platform, and has openly sold banned products on its Temu platform; (3) the foregoing subjected the Company to a heightened risk of legal and political scrutiny; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.  If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com.  If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View original content to download multimedia:https://www.prnewswire.com/news-releases/pdd-investors-have-opportunity-to-lead-pdd-holdings-inc-securities-fraud-lawsuit-302245861.html

SOURCE The Law Offices of Frank R. Cruz, Los Angeles