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ClaimsFiler, a FREE shareholder information service, reminds investors that they have until October 31, 2022 to file lead plaintiff applications in a securities class action lawsuit against TuSimple Holdings Inc. , if they purchased or otherwise acquired the Company’s securities between April 15, 2021 and August 1, 2022, inclusive (the “Class Period”) and/or purchased or otherwise acquired the Company’s shares pursuant to the Company’s April 2021 initial public offering (the “IPO”). This action is pending in the United States District Court for the Southern District of California.
TuSimple investors should visit us at https://claimsfiler.com/cases/nasdaq-tsp/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
TuSimple and certain of its executives are charged with failing to disclose material information during the Class Period and/or in the Registration Statement and Prospectus issued in conjunction with the initial public offering, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company had significantly overstated its commitment to safety and concealed fundamental problems with its technology; (ii) the Company was rushing the testing of its autonomous driving technology in order to deliver driverless trucks to the market ahead of its more safety-conscious competitors; (iii) the Company’s corporate culture suppressed or ignored safety concerns in favor of unrealistically ambitious testing and delivery schedules; (iv) the aforementioned conduct made accidents involving the Company’s autonomous driving technology more likely; (v) the aforementioned conduct was likely to lead to enhanced regulatory scrutiny and investigatory action toward the Company; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
The case is Dicker v. TuSimple Holdings, Inc., No. 22-cv-01300.
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