PDD Holdings Inc: Company Investigated by the Portnoy Law Firm
Investors cancontactthe law firm at no cost to learn more about recovering their losses
LOS ANGELES, Sept. 06, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises PDD Holdings Inc. f/k/a Pinduoduo Inc. (“PDD” or “the Company”) (NASDAQ: PDD) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Bumble investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: info@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.
On June 25, 2024, Arkansas Attorney General Tim Griffin filed a lawsuit against the Temu online marketplace, which is operated by PDD. The lawsuit accuses Temu of violating the Arkansas Personal Information Protection Act. Griffin characterized Temu as "essentially malware and spyware" that is "intentionally designed to gain unrestricted access to a user's phone operating system" with the aim of "profiting from the unauthorized collection of data."
Following this announcement, PDD's American depositary receipt (ADR) price dropped by $8.06 per ADR, or 5.77%, over the next two trading sessions, ending at $131.94 per ADR on June 27, 2024.
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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, NY and TX Bars
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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