Glancy Prongay & Murray LLP, a National Class Action Law Firm, Continues Investigation of DiDi Global Inc. (DIDI) on Behalf of Investors
LOS ANGELES--(BUSINESS WIRE)--$DIDI #CLASSACTION--Glancy Prongay & Murray LLP (“GPM”), a national investor rights law firm, continues its investigation on behalf of DiDi Global Inc. (“DiDi” or the “Company”) (NYSE: DIDI) investors concerning the Company and its officers’ possible violations of the federal securities laws.
If you suffered a loss on your DiDi investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/didi-global-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at firstname.lastname@example.org to learn more about your rights.
On or about June 30, 2021, DiDi sold about 317 million shares of stock in its initial public stock offering (the "IPO") at $14 per share, raising nearly $4.5 billion in new capital.
On July 2, 2021, the Cyberspace Administration of China stated it had launched an investigation into DiDi to protect national security and the public interest. It also reported that it had asked DiDi stop new user registrations during the course of the investigation.
On this news, the Company’s stock price fell as much as $0.87 per share, or approximately 5.3%, to close at $15.53 per share on July 2, 2021, thereby injuring investors.
Then, on July 5, 2021, The Wall Street Journal reported that Chinese regulators asked the Company as early as three months ago to delay the IPO because of national security concerns and to “conduct a thorough self-examination of its network security.”
On this news, the Company’s stock price fell as much as $3.23 per share, or 20%, during intraday trading on July 6, 2021 to as low as $12.30 per share, which is more than 12% below the IPO price, thereby injuring investors further.
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Whistleblower Notice: Persons with non-public information regarding DiDi should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email email@example.com.
Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM’s nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM’s lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM’s attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM’s past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron’s, Investor’s Business Daily, Forbes, and Money.
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Glancy Prongay & Murray LLP, Los Angeles
Charles H. Linehan, 310-201-9150 or 888-773-9224
1925 Century Park East, Suite 2100
Los Angeles, CA 90067