Core Viewpoint - A class action lawsuit has been filed against Jayud Global Logistics Limited for allegedly failing to disclose critical information regarding a fraudulent stock promotion scheme and insider trading activities that inflated the stock price [2][5]. Group 1: Lawsuit Details - The lawsuit claims that Jayud was involved in a fraudulent stock promotion scheme that utilized social media misinformation and impersonated financial professionals [2]. - It is alleged that insiders and affiliates used offshore accounts to facilitate the coordinated dumping of shares during a price inflation campaign [2]. - The lawsuit covers investors who acquired Jayud securities from April 21, 2023, to April 30, 2025, with a deadline of January 20, 2026, to request lead plaintiff appointment [1][6]. Group 2: Company Background - Jayud went public through an initial public offering (IPO) in April 2023, offering only 1.25 million shares, which is less than 5% of total outstanding equity, while maintaining significant insider control [3]. - The stock price surged from approximately $1.00 to an all-time high of $7.97 per share by April 1, 2025, reaching a market capitalization of around $720 million, despite no fundamental news from the company [4]. - Following this peak, the stock price plummeted by 95.6% to close at $0.35 per share on April 2, 2025, after the abrupt decline [4]. Group 3: Investigation Findings - Investigations have indicated that Jayud was a primary vehicle for an illicit "pump-and-dump" scheme, facilitated by the structure of its public listing and low float [5].
JYD ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action on Behalf of Jayud Global Logistics Limited Investors