Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Sept. 03, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises PDD Holdings Inc. f/k/a Pinduoduo Inc. ("PDD" or the "Company") (NASDAQ: PDD) investors of a class action representing investors that bought securities between April 30, 2021, and June 25, 2024, inclusive (the "Class Period"). PDD investors have until October 15, 2024 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
This legal action seeks to obtain compensation from the Defendants for alleged breaches of federal securities laws on behalf of individuals and entities that purchased or otherwise acquired PDD securities between April 30, 2021, and June 25, 2024 (the “Class Period”). If you are one of these investors, you are encouraged to get involved by visiting our website at https://portnoylaw.com/pdd-holdings-inc-f-k-a-pinduoduo-inc/.
The complaint alleges that during the Class Period, the Defendants made false and/or misleading statements and/or failed to disclose crucial information, including: (1) PDD Holdings’ applications contained malware designed to collect user data without consent, including private text messages; (2) PDD Holdings lacked an effective system to prevent the sale of goods produced with forced labor on its platform, and openly sold prohibited products on its Temu platform; (3) these issues increased PDD Holdings’ risk of legal and political scrutiny; and (4) as a result, the Defendants’ statements about the company’s business, operations, and future prospects were materially false and misleading or lacked a reasonable basis. The lawsuit claims that investors incurred losses when the true information became public.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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