Core Viewpoint - A class action lawsuit has been filed against PDD Holdings Inc. for allegedly misleading investors regarding illegal business practices, including the use of malware in applications and the sale of goods made by forced labor [1] 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 [1] - 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 [1] - The company is said to be exposed to increased legal and political scrutiny due to these practices, rendering its statements about business operations and prospects materially false and misleading [1] Group 2: Class Action Participation - Shareholders wishing to serve as lead plaintiffs must file their papers with the court by October 15, 2024, and do not need to participate in the case to be eligible for recovery [2] - All representation in the class action is on a contingency fee basis, meaning shareholders incur no fees or expenses [2] Group 3: About Robbins LLP - Robbins LLP is a recognized leader in shareholder rights litigation, having recovered over $1 billion for shareholders since its inception in 2002 [3] - The firm is dedicated to helping shareholders recover losses and improve corporate governance structures [3]
PDD CLASS ACTION Reminder – Lead Plaintiff Deadline in PDD Holdings Inc. Fast Approaching; Contact Robbins LLP for Information