Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the securities of DiDi Global, Inc. from June 30, 2021 through July 21, 2021 (the “Class Period”). The lawsuit filed in the United States District Court for the Central District of California alleges violations of the Securities Act of 1933 and Exchange Act of 1934.
If you purchased DiDi Global securities, and/or would like to discuss your legal rights and options please visit DiDi Global Shareholder Class Action Lawsuit or contact Rujul Patel toll free at (877) 779-1414 or firstname.lastname@example.org
The complaint alleges that, throughout the Class Period, Defendants’ Registration Statement featured false and/or misleading statements and/or failed to disclose that: (1) DiDi “had the problem of collecting personal information in violation of relevant PRC laws and regulations;” (2) DiDi’s app, DiDi Chuxing (Travel), would face an imminent cybersecurity review by the Cyberspace Administration of China (“CAC”); (3) the CAC would require all Chinese app stores to remove DiDi Chuxing; and (4) as a result, defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. On July 2, 2021, DiDi Global issued a press release revealing that Chinese authorities had asked the Company to stop registering new users while the Company was under investigation. On July 4, 2021, DiDi Global’s app was taken down by the Chinese authorities.
On July 5, 2021, the Wall Street Journal published an article reporting that [w]eeks before DiDi Global Inc.  went public in the U.S., China’s cybersecurity watchdog suggested the Chinese ride-hailing giant delay its initial public offering and urged it to conduct a thorough self-examination of its network security[.]”
On this news, DiDi Global’s stock price fell $3.04 per share, almost 20%, to close at $12.49 per share on July 6, 2021.
On July 22, before market hours, Bloomberg published an article entitled “China Weighs Unprecedented Penalty for DiDi After U.S. IPO” which reported that “Chinese regulators are considering serious, perhaps unprecedented, penalties for DiDi Global Inc. after its controversial initial public offering last month[.]”
On this news, the Company’s ADS price fell $3.44 per ADS, nearly 30%, over the next two trading days to close at $8.06 per ADS on July 23, 2021, further damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than September 7, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased DiDi Global securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/didiglobalinc-didi-shareholder-class-action-lawsuit-fraud-stock-409/apply/ or contact Rujul Patel toll free at (877) 7791414 or email@example.com
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
Bernstein Liebhard LLP