Full Truck Alliance (YMM) $10.25M Investor Settlement

It is still possible to file a late claim. The court will decide whether to accept late claims or not.

E.D. New York

Court

1:21-cv-03903

Case number

06/22/2021

Class period Start

07/02/2021

Class period End

07/23/2024

Claim deadline

Full Truck Alliance (YMM) agreed to settle $10.25 million with investors to end claims over not disclosed cybersecurity setbacks. 
On July 5, 2021, Full Truck Alliance announced a cybersecurity review, leading to a more than 6% $YMM drop.
FTA was accused of misleading an upcoming cybersecurity review by the CAC for its apps.
FTA agreed to pay $10.25M to investors to resolve the claims due to this case.
The Full Truck was accused of not revealing to investors about an upcoming cybersecurity review in China for their apps (Yunmanman and Huochebang). 

The review required them to stop new user registrations and improve their cybersecurity systems. 

When this was finally disclosed, $YMM dropped by over 6%, leading to the lawsuit. 

FTA has now decided to resolve all the allegations and pay a $10.25M settlement.

Case Status

Accepting Late Claims

Alleged Offence

Mismanagement,

Misleading Statements,

Omissions

Suspected Party

Directors,

Management

Security Type

Depository Securities (ADS, ADR, GDR)

Trade Direction

Long

Filing date

07/12/2021

Plaintiffs

Pratyush Kohli

Attorneys

The Rosen Law Firm, P.A.

Defendants

Peter Hui Zhang, Simon Chong Cai, Shanshan Guo, Guizhen Ma, Wenjian Dai, Richard Weidong Ji, Jennifer Xinzhe Li, Colleen A. De Vries

Judge

Hon. LaShann DeArcy Hall

Settlement agreement date

2023-09-20

Class wide damages

$265,650,000

Trades matching type

FIFO

+$10,250,000

Cash Settlement Amount

Frequently Asked Questions

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