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NEW YORK, Aug. 3, 2021 /PRNewswire/ Pomerantz LLP is investigating claims on behalf of investors of Full Truck Alliance Co. Ltd. ( FTA or the Company ) (NYSE: YMM). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether FTA and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or about June 22, 2021, FTA conducted its initial public offering ( IPO ), selling approximately 82.5 million American Depositary Shares ( ADSs ) priced at $19.00 per share. Then, on July 5, 2021, FTA issued a press release entitled Full Truck Alliance Announces Cybersecurity Review in China , announcing that pursuant to an announcement issued by the Cybersecurity Review Office ( CRO ) of the Cyberspace Administration of China on July 5, 2021, CRO has initiated a cybersecurity review of FTA s Yunmanm
Kessler Topaz Meltzer & Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Full Truck Alliance Co Ltd prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
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NEW YORK, July 28, 2021 /PRNewswire/ Pomerantz LLP is investigating claims on behalf of investors of Full Truck Alliance Co. Ltd. ( FTA or the Company ) (NYSE: YMM). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether FTA and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or about June 22, 2021, FTA conducted its initial public offering ( IPO ), selling approximately 82.5 million American Depositary Shares ( ADSs ) priced at $19.00 per share. Then, on July 5, 2021, FTA issued a press release entitled Full Truck Alliance Announces Cybersecurity Review in China , announcing that pursuant to an announcement issued by the Cybersecurity Review Office ( CRO ) of the Cyberspace Administration of China on July 5, 2021, CRO has initiated a cybersecurity review of FTA s Yunmanman app
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FTA purports to, with its subsidiaries, operate a digital freight platform that connects shippers with truckers to facilitate shipments in the People’s Republic of China (“PRC”). It offers freight listing, matching, and brokerage services and online transaction services, as well as various value-added services. Yunmanman and Huochebang were founded in 2013 and 2011, respectively, and both companies were digital freight platforms in the PRC prior to their merger which created FTA in 2017.
The complaint alleges that the Registration Statement failed to disclose FTA’s non-compliance with the relevant regulations or the potential penalties for its non-compliance including a suspension of new user additions during a cybersecurity review.