PDD(PDD) Prnewswire·2024-10-15 13:00Core Viewpoint - Securities class action lawsuits have been filed against PDD Holdings Inc. for allegedly misleading investors about its growth and concealing significant risks to its business during the Class Period from April 30, 2021, to September 12, 2024 [1][2]. Group 1: Allegations Against PDD Holdings Inc. - Defendants are accused of promoting PDD's growth while hiding unsustainable factors that posed risks, including unprofitable merchant policies, malware issues, and inadequate compliance systems [2]. - Specific allegations include that PDD's merchant policies led to operational cost savings at the expense of vendor profitability, and that malware on PDD applications compromised user data [2]. - The company reportedly faced undisclosed risks related to poor merchant and customer relations, resulting in significant financial repercussions such as hundreds of millions of dollars in fees returned to merchants [2]. Group 2: Legal Process for Investors - Investors in PDD can seek to be appointed as lead plaintiffs by October 15, 2024, through Kessler Topaz Meltzer & Check, LLP or other legal counsel [3]. - A lead plaintiff represents the interests of all class members and typically has the largest financial stake in the case [3]. - Participation as a lead plaintiff does not affect the ability of other investors to share in any potential 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 affected PDD investors to contact them for more information regarding the lawsuits [4][5].