Class Action Filed On Behalf of DiDi Global Investors Who Acquired DiDi Securities In Connection With The Company's IPO And/Or During The Class Period
PHILADELPHIA, PA, USA, July 29, 2021 /EINPresswire.com/ — Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of DiDi Global Inc. (“DiDi” or the “Company”) (NYSE: DIDI) to determine whether DiDi engaged in securities fraud or other unlawful business practices.
A class action lawsuit has been filed in United States District Court, Central District of California (2:21-cv-06113), on behalf of DiDi investors who purchased, or otherwise acquired, the securities of DiDi pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with DiDi’s June 30, 2021 initial public offering (“IPO” or “Offering”); and/or (2) between June 30, 2021 and July 21, 2021, inclusive (the “Class Period”).
According to the class action complaint, the DiDi Defendants made materially false and/or misleading statements, because they misrepresented and failed to disclose adverse facts pertaining to the Company’s business, operations and prospects, which were known to Defendants, or recklessly disregarded by them.
Specifically, according to the complaint, the Registration Statement was false and/or misleading and/or failed to disclose that (1) the Cyberspace Administration of China (“CAC”) urged Defendant DiDi to delay its IPO; (2) Defendant DiDi “had the problem of collecting personal information in violation of relevant PRC laws and regulations”; (3) Defendant DiDi could not guarantee data security; (4) due to the foregoing, Defendant DiDi would face “serious, perhaps unprecedented, penalties” from relevant authorities; (5) DiDi and its many apps would face an imminent cybersecurity review by the CAC, which could lead to removal of DiDi’s apps from app stores; and (6) as a result, the DiDi Defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, DIDI SECURITIES IN CONNECTION WITH THE COMPANY’S IPO AND/OR DURING THE CLASS PERIOD AND SUFFERED LOSSES GREATER THAN $100,000 ARE ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., MYARNOFF@KEHOELAWFIRM.COM, INFO@KEHOELAWFIRM.COM, TO DISCUSS THE SECURITIES CLASS ACTION INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
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Michael Yarnoff, Esq.
Kehoe Law Firm, P.C.
Source: EIN Presswire