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Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a federal securities class action lawsuit has been filed class action lawsuit in the United States District Court for the Southern District of California, on behalf of all persons or entities that purchased TuSimple Holdings, Inc. securities during the period from April 15, 2021 through August 1, 2022 inclusive (the “Class Period”).
All investors who purchased the shares of TuSimple Holdings, Inc. and incurred losses are advised to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses in TuSimple Holdings, Inc. you may, no later than October 31, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in TuSimple Holdings, Inc.
According to the filed complaint, on April 15, 2021, TuSimple effected its Initial Public Offering (“IPO”), selling 33.8 million class A common shares at $40.00 per share, generating $1.031 billion in gross proceeds.
On August 1, 2022, the Wall Street Journal published an article titled “Self-Driving Truck Accident Draws Attention to Safety at TuSimple,” which brought to light a number of previously undisclosed concerns that undermined defendants’ representations and omissions concerning the Company’s safety. The article referenced an April 6, 2022, accident involving a truck fitted with TuSimple’s autonomous driving technology, noting that regulators disclosed the accident to the public in June after TuSimple filed a report on the incident, which “underscores concerns that the autonomous-trucking company is risking safety on public roads in a rush to deliver driverless trucks to market, according to independent analysts and more than a dozen of the company’s former employees.”
On this news, the Company’s share fell almost 10%, to close at $8.99 per share on August 1, 2022.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
