ONGOING INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Pinduoduo Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
Aug. 02, 2018
LOS ANGELES--(BUSINESS WIRE)--Aug 2, 2018--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Pinduoduo Inc. (“Pinduoduo” or “the Company”) (NASDAQ: PDD ) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The media is reporting that China’s Statement Administration for Market Regulation ordered Shanghai’s Industry and Commerce Bureau to undertake an investigation of Pinduoduo based on reports of third-party vendors using the Company’s platform to sell counterfeit goods. Pinduoduo’s share price fell significantly on August 1, 2018, based on this news.
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We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20180802005790/en/
CONTACT: The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: The Schall Law Firm
Copyright Business Wire 2018.
PUB: 08/02/2018 02:24 PM/DISC: 08/02/2018 02:24 PM