The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Pinduoduo, Inc. (“Pinduoduo”) (NASDAQ: PDD) securities between July 23, 2018 and August 21, 2018 (the “Class Period”). Investors have until October 22, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that Defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Pinduoduo’s controls were ineffective to prevent third-party vendors from selling counterfeit goods on the Company’s online platform; (ii) consequently, Pinduoduo’s revenues and the number of active merchants using its platform were traceable in part to unlawful conduct and thus unsustainable; and (iii) as a result, Pinduoduo’s public statements were materially false and misleading at all relevant times.
If you purchased or otherwise acquired Pinduoduo securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20181006005012/en/
Contacts:
Thomas W. Elrod, Esq., (212) 371-6600
investigations@kmllp.com
www.kmllp.com
