NEW YORK, July 06, 2021 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of DiDi Global Inc. (NYSE: DIDI) resulting from allegations that DiDi may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased DiDi securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to http://www.rosenlegal.com/cases-register-2113.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
WHAT IS THIS ABOUT: On July 4, 2021, the Company issued a press release entitled “DiDi Announces App Takedown in China” which announced that: “the CAC [Cyberspace Administration of China] stated that it was reported and confirmed that the ‘DiDi Chuxing’ app had the problem of collecting personal information in violation of relevant PRC laws and regulations.” The press release further stated that “[p]ursuant to the PRC's Cybersecurity Law, the CAC notified app stores to take down the ‘DiDi Chuxing’ app in China[.]”
On July 5, 2021, the Wall Street Journal published an article entitled “Chinese Regulators Suggested Didi Delay Its U.S. IPO: Ride-hailing giant, under pressure to reward shareholders, pushed ahead with NYSE listing despite concerns of China’s cybersecurity watchdog” which reported, among other things, that “[w]eeks before Didi Global Inc. [] went public in the U.S., China’s cybersecurity watchdog suggested the Chinese ride-hailing giant delay its initial public offering and urged it to conduct a thorough self-examination of its network security[.]”
On this news, the Company’s American Depositary Shares (“ADS”) price fell $3.04 per ADS, or nearly 20%, to close at $12.49 per ADS on July 6, 2021, the next trading day.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com