SAN DIEGO & BEIJING – (COMMERCIAL THREAD) – Law firm in shareholder law Robbins LLP announces that a class action lawsuit has been filed on behalf of all purchasers of US Depository Shares of DiDi Global Inc. (NASDAQ: DIDI) (“ADS”) in accordance with the registration statement and prospectus issued in connection with Initial public offering (“IPO”) of June 2021 and / or between June 30, 2021 and July 2, 2021. The lawsuit alleges claims against the defendants under the Securities Act of 1933 and the Securities Exchange Act of 1934. DiDi claims to be the largest mobility technology platform.
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DiDi Global Inc. (DIDI) did not respect privacy laws
According to the complaint, the company sold approximately 316,800,000 shares at $ 14.00 per share on the IPO, for proceeds of $ 4,333.1 million. On July 2, 2021, the Cyberspace Administration of China (“CAC”) said it had launched an investigation into DiDi to protect national security and the public interest and asked DiDi to stop new user registrations. during the investigation. Following this news, the company’s share price fell more than 5% to close at $ 15.53 per share on July 2, 2021. On July 4, 2021, DiDi announced that the ACC ordered stores of smartphone applications to stop offering the “DiDi Chuxing” application because it “collects[ed] personal information in violation of the laws and regulations of the PRC. DiDi said that “the removal of the app could have a negative impact on its revenue in China.”
On July 5, 2021, The the Wall Street newspaper reported that ACC had asked the company as early as three months before the IPO to postpone the offering due to national security concerns. At this news, the stock fell nearly 20%, to close at $ 12.49 per share on July 6, 2021.
If you purchased ADS from DiDi Global Inc. (DIDI) as part of the Company’s IPO or between June 30, 2021 and July 2, 2021, you have until September 7, 2021 to apply to court to designate you as the main applicant of the group.
All representation is based on contingency fees. Shareholders pay no fees or expenses.
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