Portnoy Law Firm Announces Class Action on Behalf of Sina Corporation Holdings, Inc. Investors

Core Viewpoint - A class action lawsuit has been initiated against Sina Corporation, alleging fraudulent activities by the company and its officers to undervalue shares during a take-private acquisition [3]. Group 1: Class Action Details - Investors who purchased securities between October 13, 2020, and March 22, 2021, are eligible to participate in the class action, with a deadline to file a lead plaintiff motion by November 18, 2025 [1]. - The Portnoy Law Firm is encouraging affected investors to contact them for legal rights discussions and case evaluations [2]. Group 2: Allegations Against Defendants - The complaint claims that Sina and its officers engaged in a scheme to depress the value of ordinary shares to avoid paying a fair price during the merger with a buyer group controlled by the CEO [3]. - Specific allegations include the failure to disclose the true value of Sina's investment in TuSimple Holdings, Inc., which misled shareholders regarding the fairness of the $43.30 per share offer during the merger [3].