NEW YORK, Oct. 3, 2022 /PRNewswire/ -- Attention Tuya Inc. ("Tuya") (NYSE: TUYA) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors. This lawsuit is on behalf of all persons or entities who purchased Tuya American Depositary Shares in or traceable to the Company's March 2021 initial public offering.
If you suffered a loss on your investment in Tuya, contact us about potential recovery by using the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/tuya-loss-submission-form?prid=32272&wire=4
ABOUT THE ACTION: The class action against Tuya includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (a) a material portion of Tuya's China-based customers were engaged in the widespread and systematic manipulation of reviews and product offerings in violation of Amazon.com's terms of use; (b) prior to the initial public offering, a consumer investigation and data breach had exposed an illicit fake review scheme being perpetrated by many of Tuya's clients, among others, which included, inter alia, the exposure of 13 million records of organized fake review scams linked to over 200,000 Amazon account profiles; (c) as a result of (a) and (b) above, there was a substantial risk that a material portion of Tuya's significant customers would be barred from using Amazon.com's platform, negatively impacting Tuya's business, revenue, earnings, and prospects; and (d) as a result of (a)-(c) above, the registration statement's representations regarding Tuya's historical financial and operational metrics and purported market opportunities and expected growth did not accurately reflect the actual business, operations, financial results, and trajectory of the Company at the time of the initial public offering, and such statements were materially false and misleading and lacked a reasonable factual basis.
DEADLINE: October 11, 2022
Aggrieved Tuya investors only have until October 11, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
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SOURCE The Law Offices of Vincent Wong
