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James (Josh) Wilson, Partner in Securities Litigation, encourages investors who have experienced more than $50,000 losses in Diddy to contact him directly to discuss their options.

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NEW YORK, NY – (Newsfile Corp. – August 6, 2021) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against DiDi Global Inc. (“DiDi” or “the Company”) (NYSE: DIDI) reminds investors of the September 7, 2021 deadline to seek the role of the lead plaintiff in a class of federal securities lawsuit brought against the Company.

if you incur losses in excess of $50,000 from investing in DiDi stock or options (a) in accordance with and/or attributable to the registration statement and prospectus issued in connection with the Company’s initial public offering in June 2021; and/or (b) the securities between June 30, 2021 and July 21, 2021 And you wish to discuss your legal rights, contact Faruqi & Faruqi’s partner Josh Wilson live in a 4292-247-877 or 212-983-9330 (ext. 1310). You can also click here for additional information: www.faruqilaw.com/DIDI.

There is no cost or obligation to you.

Farooqi & Farooqi is a leading national minority and women-owned securities law firm with offices in New York, Delaware, Pennsylvania, California and Georgia.

As detailed below, the lawsuit focuses on whether the Company and its executives have violated federal securities laws by making incorrect and/or misleading statements and/or failing to disclose that: (i) DiDi’s applications do not comply with applicable laws govern privacy protection and the collection of personal information; (2) As a result, the company was reasonably likely to have come under scrutiny from the China Cyberspace Administration; (3) CAC had already warned DiDi against delaying the IPO to conduct a self-examination of its network security; (iv) As a result of the foregoing, DiDi Apps are reasonably likely to be removed from App Stores in China, which will have a negative impact on its financial results and operations; and (5) as a result of the foregoing, the Defendants’ positive statements about the Company’s business, operations, and expectations were materially misleading and/or lacking a reasonable basis.

On Sunday, July 4, 2021, Didi reported that the CAC had ordered smartphone app stores to quit offering the “DiDi Chuxing” app because it “collects…[ed] Personal information that violates pertinent laws and regulations of the People’s Republic of China. “The company was ordered to make changes to comply with Chinese data protection rules to “ensure the safety of users’ personal information.” Improve awareness of risk prevention and technological capabilities, protect users’ privacy and data security, and persevere to provide safe and useful services to its users.” Although users who have downloaded the app Previously they could persevere to use it, DiDi had stated that “removing the app may have a negative impact on its revenue in China.”

On July 5, 2021, the Wall Street Journal reported that CAC had asked the company as beforetime as three months prior the IPO to delay the offer due to national security concerns and “to conduct a thorough self-examination of its network security.” Based on this news, the company’s stock price plummeted. by $3.04 per share, or 19.6%, to close at $12.49 per share on July 6, 2021, in unusually lofty volume.

When this action began, the company’s stock was trading as low as $12.06 per share, roughly 14% below the initial public offering price of $14 per share.

The court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class and which is appropriate and typical for members of the class that directs and oversees litigation on behalf of the presumed class. Any member of the presumed class may transfer the court to serve as lead plaintiff through a counsel of his choosing, or he may choose to do nothing and remain an absentee member of the class. Your aptitude to participate in any redemption is not affected by the decision to act as lead claimant or not.

Faruqi & Faruqi, LLP also encourages anyone with information relating to DiDi’s conduct to contact the Company, including whistleblowers, previous employees, shareholders, and others.

Advertisement attorney. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or expect a similar result with respect to any coming matter. We welcome the opportunity to discuss your own case. All communications will be treated confidentially.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92401

Referensi: finance.yahoo.com

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