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PDD.US
id: 994, Created by , Scout

PDD Holdings (PDD) Allegations of Circulating Dangerous Malware/Spyware Case

  • In September 2023, a report alleged that one of PDD’s apps was the most dangerous malware/spyware package in circulation.
  • On it, $PDD fell 4.9%, losing $6.62B+ of shareholder value.
  • Investors may have grounds to suspect that PDD hid questionable features of its product problems, which led to their losses.
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.

Considering all the information, investors might have grounds to suspect that PDD failed to timely disclose questionable features of a company’s product, which consequently led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
07 September 2023
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