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PDD.US
id: 994

PDD Holdings (PDD) Circulating Dangerous Malware/Spyware Case

E.D. New York
Court
1:24-cv-05653
Case number
04/30/2021
Class period Start
06/25/2024
Class period End
10/14/2024
Lead Plaintiff motion deadline
  • $PDD stockholders filed a claim against PDD Holdings for secretly collecting data and allowing the sale of products made with forced labor.
  • After the news on September 7, 2023, $PDD fell 4.9%, losing $6.62B+ of shareholder value.
  • PDD investors can join this case to be notified about potential recovery.
Case Details:

On September 7, 2023, Grizzly Research published a report alleging, among other things, that PDD’s popular shopping app, TEMU, was the most dangerous malware/spyware package in widespread circulation.

On this news, $PDD fell 4.9% and lost over $6.62 billion of its market capitalization, seriously damaging shareholders.

Based on these events, $PDD investors filed a claim against PDD Holdings, accusing the company of the following:
  • PDD Holdings' apps secretly collected user data without consent.
  • The company also failed to stop forced labor products from being sold on its platform, increasing legal risks.
Considering all the representations, investors suspect PDD apps secretly collected data and failed to stop forced labor products.
Case Status
Lead Plaintiff Appointed
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
09/07/2023
Filing date
08/13/2024
Lead Plaintiff Deadline
10/14/2024
Collecting participants…

Pinduoduo

PDD Holdings Inc., a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including a...

    Ticker
    PDD.US
    ISIN
    US7223041028
    Sector
    Consumer Cyclical
    Industry
    Internet Retail
    Country
    USA
    Address
    25 Saint Stephens Green, Dublin, Ireland, D02 XF99