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 be appointed 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]
PDD DEADLINE: ROSEN, A LEADING LAW FIRM, 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