Core Viewpoint - Jayud Global Logistics Limited is facing a class action lawsuit for securities fraud, alleging undisclosed fraudulent activities and manipulation of stock prices during a specific period [3][5][6]. Group 1: Lawsuit Details - The lawsuit is on behalf of investors who purchased Jayud securities from April 21, 2023, to April 30, 2025, alleging that the company failed to disclose involvement in a fraudulent stock promotion scheme [3]. - Allegations include the use of social media misinformation, insider trading through offshore accounts, and omission of critical information regarding false rumors and artificial trading activity [3][5]. - The company went public in April 2023 with a low-float IPO, offering only 1.25 million shares, which constituted less than 5% of total outstanding equity [4]. Group 2: Stock Performance - Jayud's stock price increased from approximately $1.00 to a peak of $7.97 per share by April 1, 2025, resulting in a market capitalization of around $720 million, despite no fundamental news [5]. - Following this peak, the stock price plummeted by 95.6%, closing at $0.35 per share on April 2, 2025, after the abrupt decline [5]. Group 3: Investigation Findings - Investigations have indicated that Jayud was a primary vehicle for a "pump-and-dump" scheme, facilitated by its public listing structure and low float [6].
JYD: Kirby McInerney LLP Advises Jayud Global Logistics Limited Investors of Class Action Lawsuit