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PDD DEADLINE: ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages PDD Holdings Inc. f/k/a Pinduoduo Inc. Investors with Losses in Excess of $100k to Secure Counsel Before Important October 15 Deadline in Securities Class Action First Filed by the Firm – PDD
PDDPDD(US:PDD) GlobeNewswire News Room·2024-10-10 17:46

Core Viewpoint - Rosen Law Firm is reminding investors who purchased American Depositary Shares of PDD Holdings Inc. during the specified Class Period of the upcoming lead plaintiff deadline for a securities class action lawsuit [1][2]. Group 1: Class Action Details - The Class Period for the lawsuit is from April 30, 2021, to September 12, 2024, inclusive [1]. - Investors who purchased PDD Holdings securities during this period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1]. - A lead plaintiff must move the Court by October 15, 2024, to represent other class members in the litigation [2]. Group 2: Law Firm Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company and being ranked No. 1 for securities class action settlements in 2017 [3]. - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [3]. - Founding partner Laurence Rosen was recognized as a Titan of Plaintiffs' Bar by Law360 in 2020 [3]. Group 3: Allegations Against PDD Holdings - The lawsuit alleges that PDD Holdings made materially false and misleading statements, including the presence of malware in its applications that could access user data without consent [4]. - It is claimed that PDD Holdings lacks a meaningful system to prevent the sale of goods made by forced labor and has sold banned products on its Temu platform [4]. - These issues have subjected PDD Holdings to increased legal and political scrutiny, leading to misleading statements about its business and operations [4].