NEW YORK–(BUSINESS WIRE)–$PDD #classaction–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
W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at email@example.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
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.