WHY: Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Full Truck Alliance Co. Ltd. (NYSE: YMM) resulting from allegations that FTA may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased FTA securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to http://www.rosenlegal.com/cases-register-2114.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
WHAT IS THIS ABOUT: On or about June 22, 2021, FTA sold approximately 82.5 million American Depositary Shares (“ADS”) in its initial public offering (“IPO”) at $19 per ADS, raising nearly $1.6 billion in new capital.
Then on July 5, 2021, FTA issued a press release entitled “Full Truck Alliance Announces Cybersecurity Review in China” which announced 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 apps and Huochebang apps.” The press release further revealed that “[i]n order to facilitate the review and prevent the expansion of potential risks, these mobile apps are required to suspend new user registration in China during the review period.”
On this news, the Company’s ADS price fell sharply during pre-market trading.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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