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State: 17.08.2024 | 11PM
Wed, 28.08.2024       PDD Holdings
US7223041028

LOS ANGELES, Aug. 28, 2024 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against PDD Holdings Inc. ("PDD" or the "Company") (NASDAQ: PDD).

Class Period: April 30, 2021 – June 25, 2024Lead Plaintiff Deadline: October 15, 2024

If you are a shareholder who suffered a loss, click here to participate.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) PDD's applications contained malware, which was designed to obtain user data without the user's consent, including reading private text messages; (2) PDD has no meaningful system to prevent goods made by forced labor from being sold on its platform, and has openly sold banned products on its Temu platform; (3) the foregoing subjected the Company to a heightened risk of legal and political scrutiny; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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