INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Pinduoduo, Inc.
NEW YORK--(BUSINESS WIRE)--Sep 6, 2018--The law firm of Kirby McInerney LLP announces that it has a filed a class action lawsuit in the United States District Court for the Southern District of New York against Pinduoduo, Inc. (“Pinduoduo” or the “Company”) (NASDAQ:PDD) and certain officers. The lawsuit was filed on behalf of a class of investors who purchased or otherwise acquired Pinduoduo securities during the period between July 26, 2018 and July 31, 2018 (the “Class Period”) and seeks to recover damages caused by Defendants’ alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Investors have until October 22, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that on July 31, 2018 and August 1, 2018, multiple media outlets reported that China’s State Administration for Market Regulation was investigating Pinduoduo due to reports of third-party vendors selling counterfeit goods on the platform, a group-discounting website. On this news, shares declined from $22.59 on July 31, 2018 to $20.31 on August 1, 2018 (a decline of $2.28).
If you purchased or otherwise acquired Pinduoduo securities during the period from July 26, 2018 and July 31, 2018, have information, or would like to learn more about this lawsuit or about claims that you may have, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at email@example.com or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180906005929/en/
CONTACT: Kirby McInerney LLP
Thomas W. Elrod, Esq., 212-371-6600
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Kirby McInerney LLP
Copyright Business Wire 2018.
PUB: 09/06/2018 04:31 PM/DISC: 09/06/2018 04:31 PM