ATLANTA, Aug. 14, 2024 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against PDD Holdings Inc. (“PDD” or the “Company”) (NASDAQ: PDD) f/k/a Pinduoduo Inc. The lawsuit alleges that Defendants made materially false and/or misleading statements and/or failed to disclose material adverse facts regarding the Company’s business, operations, and prospects, including allegations that: (1) PDD’s applications contained malware, which was designed to obtain user data without the user’s consent, including reading private text messages; (2) PDD has no meaningful system to prevent goods made by forced labor from being sold on its platform, and has openly sold banned products on its Temu platform; and (3) the foregoing subjected the Company to a heightened risk of legal and political scrutiny.
If you bought shares of PDD between April 30, 2021 and June 25, 2024, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey D. Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at http://holzerlaw.com/case/pdd-holdings/ to learn more.
The deadline to ask the court to be appointed lead plaintiff in the case is October 15, 2024.
Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021, 2022, and 2023, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.
CONTACT:
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
cholzer@holzerlaw.com
