NEW YORK, NY / ACCESSWIRE / September 19, 2023 / Pomerantz LLP is investigating claims on behalf of investors of PDD Holdings Inc. ("PDD" or the "Company") (NASDAQ:PDD). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether PDD and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On September 7, 2023, Grizzly Research published a report alleging, among other things, that PDD's popular shopping app, TEMU, "is the most dangerous malware/spyware package currently in widespread circulation."
On this news, PDD's American depositary receipt ("ADR") price fell $4.98 per ADR, or 4.9%, to close at $96.61 per ADR on September 7, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP