Robbins Geller Rudman & Dowd LLP Announces Prospect for Investors with Significant Losses to Direct the Total Truck Alliance Co. Ltd. Class Action Lawsuit
SAN DIEGO, July 20, 2021 /PRNewswire/ — The Total Truck Alliance class action lawsuit costs Total Truck Alliance Co. Ltd. (NYSE: YMM), specific of its prime executives, and the underwriters of Whole Truck Alliance’s June 2021 initial community offering (“IPO”) with violations of the Securities Act of 1933. The Total Truck Alliance course action lawsuit seeks to characterize purchasers of Full Truck Alliance securities pursuant and/or traceable to the registration statement and linked prospectus (collectively, the “Registration Statement”) issued in relationship with Total Truck Alliance’s IPO. The Whole Truck Alliance class motion lawsuit (Pratyush v. Total Truck Alliance Co. Ltd., No. 21-cv-03903) was commenced on July 12, 2021 in the Japanese District of New York and is assigned to Judge LaShann DeArcy Hall.
If you suffered considerable losses and wish to serve as lead plaintiff of the Full Truck Alliance course motion lawsuit, be sure to provide your information and facts by clicking below. You can also make contact with lawyer J.C. Sanchez of Robbins Geller by calling 800/449-4900 or by means of e-mail at [email protected]. Guide plaintiff motions for the Total Truck Alliance course action lawsuit must be submitted with the court no afterwards than September 10, 2021.
Circumstance ALLEGATIONS: The Complete Truck Alliance course action lawsuit alleges that Total Truck Alliance’s Registration Statement produced untrue and/or deceptive statements and/or failed to disclose that: (i) Total Truck Alliance’s apps Yunmanman and Huochebang would experience an imminent cybersecurity evaluate by the Cyberspace Administration of China (“CAC”) (ii) the CAC would demand Comprehensive Truck Alliance to suspend new person registration (iii) Full Truck Alliance essential to conduct a “detailed self-evaluation of any cybersecurity threats” (iv) Complete Truck Alliance needed to “proceed to enhance its cybersecurity techniques and technologies capabilities” and (v) as a end result, defendants’ community statements were being materially phony and misleading at all applicable moments and negligently organized.
On July 5, 2021, Entire Truck Alliance issued a push launch entitled “Entire Truck Alliance Announces Cybersecurity Evaluate in China” which declared, in pertinent component, that “pursuant to an announcement issued by the Cybersecurity Critique Business office (“CRO”) of the [CAC] on July 5, 2021, CRO has initiated a cybersecurity overview of [Full Truck Alliance]’s Yunmanman apps and Huochebang apps. In get to aid the evaluation and prevent the enlargement of opportunity challenges, these cell apps are necessary to suspend new user registration in China in the course of the evaluation interval.” Whole Truck Alliance even further revealed that it was “conducting a comprehensive self-evaluation of any potential cybersecurity challenges and will carry on to improve its cybersecurity devices and know-how capabilities.” On this news, the price of Full Truck Alliance’s American Depository Shares fell more than 6%.
THE Lead PLAINTIFF System: The Non-public Securities Litigation Reform Act of 1995 permits any trader who bought Full Truck Alliance securities pursuant and/or traceable to the Registration Assertion issued in link with Entire Truck Alliance’s IPO to search for appointment as guide plaintiff in the Whole Truck Alliance class motion lawsuit. A guide plaintiff is normally the movant with the best financial interest in the aid sought by the putative course who is also normal and enough of the putative course. A guide plaintiff acts on behalf of all other course customers in directing the Full Truck Alliance course action lawsuit. The lead plaintiff can select a regulation agency of its alternative to litigate the Entire Truck Alliance course motion lawsuit. An investor’s capacity to share in any possible upcoming restoration of the Whole Truck Alliance class action lawsuit is not dependent upon serving as lead plaintiff.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 attorneys in 9 offices nationwide, Robbins Geller Rudman & Dowd LLP is the premier U.S. law firm symbolizing buyers in securities class actions. Robbins Geller lawyers have received many of the largest shareholder recoveries in background, like the major securities class motion recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. The 2020 ISS Securities Class Action Expert services Prime 50 Report rated Robbins Geller very first for recovering $1.6 billion for investors last 12 months, far more than double the amount recovered by any other securities plaintiffs’ agency. Be sure to go to https://www.rgrdlaw.com/company.html for a lot more facts.
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Contact:
Robbins Geller Rudman & Dowd LLP
655 W. Broadway, San Diego, CA 92101
J.C. Sanchez, 800-449-4900
[email protected]
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