RADNOR, Pa., Oct. 04, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that securities class action lawsuits have been filed in the United States District Court for the Eastern District of New York against PDD Holdings Inc. f/k/a Pinduoduo Inc. (“PDD”) (NASDAQ: PDD) on behalf of investors who purchased or otherwise acquired PDD securities between April 30, 2021 and September 12, 2024, inclusive (the “Class Period”) The lead plaintiff deadline is Oc ...

NEW YORK, Oct. 3, 2024 /PRNewswire/ --Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of American Depositary Shares of PDD Holdings Inc. f/k/a Pinduoduo Inc. (NASDAQ: PDD) between April 30, 2021 and September 12, 2024, both dates inclusive (the "Class Period"), as well as those who purchased call options or sold put options during the Class Period, of the important October 15, 2024 lead plaintiff deadline in the securities class action first filed by the Firm.So what: If you purch ...

PDD Holdings Inc. (PDD) shares ended the last trading session 4.9% higher at $152.71. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 49% gain over the past four weeks.PDD Holdings’ rally is primarily driven by optimism about the strong momentum in its Pinduoduo platform, backed by a wide range of product offerings. The company’s growing agriculture business, driven by collaborations with local communities, shops, ...

NEW YORK, Oct. 02, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of PDD Holdings Inc. f/k/a Pinduoduo Inc. (NASDAQ: PDD). Shareholders who purchased shares of PDD during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/pdd-holdings-inc-f-k-a-pinduoduo-inc-loss-submission-form/?id ...

China's stock market is up almost 25% in a week. In three months, it could gain 10% more.The rally in Chinese stocks entered its second week Wednesday morning, with shares of Temu owner PDD Holdings (PDD 4.68%) rising 6% through 10:10 a.m. ET. This was followed by internet search giant Baidu (BIDU 2.77%), which gained 3.9%, and Pizza Hut and KFC operator Yum China Holdings (YUMC 4.37%) bringing up the rear with a gain of 3.6%.The reason today, as it's been for the past week and more, is a series of subsidie ...

Market Sentiment and Performance - "Short China" was identified as the second-most crowded trade in the September Bank of America Global Fund Manager Survey, indicating significant bearish sentiment towards Chinese markets [1] - Chinese markets have surged 25% over the past five trading days, reflecting a strong rebound as the world's second-largest economy shows signs of recovery [1] Content Creation and Expertise - The freelance financial writer specializes in creating content for financial advisors and investment firms, focusing on thematic investing, market events, and client education [1] - The writer leverages empirical data and charts to produce evidence-based narratives, aiming to make financial content accessible and engaging for everyday investors [1] - Expertise includes analyzing stock market sectors, ETFs, economic data, and broad market conditions, with a focus on macro drivers of asset classes such as stocks, bonds, commodities, currencies, and crypto [1]

Class Action Lawsuit Against PDD Holdings - The Portnoy Law Firm is advising PDD Holdings Inc investors who purchased securities between April 30, 2021, and August 23, 2024, to file a lead plaintiff motion by October 15, 2024 [1] - Investors can contact the law firm for a complimentary case evaluation to discuss legal rights and options for recovering losses [1] Allegations Against PDD Holdings - PDD allegedly misled investors by highlighting growth while hiding key issues that made the growth unsustainable and risky [2] - Issues include policies that made it unprofitable for vendors, malware problems on PDD apps, lack of effective compliance systems, and hidden risks related to poor relationships with merchants and customers [2] - These issues led to significant fee refunds, merchants leaving for competitors, and slower customer growth [2] Financial Impact and Market Reaction - On August 26, 2024, PDD announced its second-quarter results for 2024, revealing no dividends or share buybacks for the foreseeable future [3] - The company indicated future profitability would be impacted by reduced transaction fees for high-quality merchants [3] - Following this news, the price of PDD ADSs dropped $39 87, or 29%, closing at $100 00 on August 26, 2024 [3] Legal Representation - The Portnoy Law Firm represents investors in pursuing claims against corporate wrongdoing and has recovered over $5 5 billion for aggrieved investors [3]

Core Viewpoint - A shareholder has filed a securities class action lawsuit against PDD Holdings Inc. for alleged misrepresentations regarding the protection of confidential information during the class period from April 30, 2021, to August 23, 2024 [1] Group 1 - The lawsuit claims that PDD failed to adequately protect the confidential information of buyers, merchants, and its network against security breaches [1] - The class action is open to investors who purchased or acquired PDD securities during the specified class period [1] - Interested parties can file to serve as lead plaintiff by October 15, 2024, with no fees or expenses required from shareholders [2]

Core Viewpoint - PDD Holdings Inc. is facing a class action lawsuit due to allegations of issuing false and misleading statements regarding its business practices, including issues related to malware in its applications and the sale of goods made by forced labor [1][2]. Group 1: Allegations and Class Period - The class period for the lawsuit is from April 30, 2021, to June 25, 2024 [1]. - Allegations include that PDD's applications contained malware designed to obtain user data without consent, including reading private text messages [1]. - It is claimed that PDD lacks a meaningful system to prevent the sale of goods made by forced labor and has sold banned products on its Temu platform [1]. Group 2: Legal and Financial Implications - The allegations have subjected PDD to heightened legal and political scrutiny, which may impact its business operations and prospects [1]. - The lawsuit suggests that the defendants' statements about the company's business and operations were materially false and misleading, lacking a reasonable basis [1]. Group 3: Next Steps for Shareholders - Shareholders who purchased PDD shares during the class period are encouraged to register for the class action by October 15, 2024, to potentially become lead plaintiffs [2]. - Registered shareholders will be enrolled in a portfolio monitoring software to receive updates throughout the case lifecycle [2].

Core Viewpoint - A securities class action lawsuit has been filed against PDD Holdings Inc. for allegedly making false and misleading statements regarding its business practices and the safety of its applications [1][2]. Group 1: Allegations Against PDD Holdings Inc. - The lawsuit claims that PDD's applications contained malware designed to obtain user data without consent, including access to private text messages [2]. - It is alleged that PDD lacks a meaningful system to prevent the sale of goods made by forced labor and has sold banned products on its Temu platform [2]. - These issues have reportedly subjected PDD to increased legal and political scrutiny, rendering the company's statements about its business and operations materially false and misleading [2]. Group 2: Legal Process for Investors - Investors in PDD have until October 15, 2024, to seek appointment as lead plaintiff in the class action, which involves directing the litigation on behalf of all class members [3]. - A lead plaintiff is typically the investor or group of investors with the largest financial interest in the case and who are representative of the class [3]. - The decision to serve as a lead plaintiff does not affect an investor's ability to share in any recovery from the lawsuit [3]. Group 3: Firm Information - Kessler Topaz Meltzer & Check, LLP is known for prosecuting class actions and has a reputation for recovering billions for victims of corporate misconduct [5]. - The firm encourages PDD investors who have suffered significant losses to contact them for more information regarding the lawsuit [4].