pinduoduo lawsuit, pdd class action

Class Action News

Levi & Korsinsky Announces Pinduoduo Class Action, PDD Lawsuit

Levi & Korsinsky

September 6, 2018

NEW YORK, September 6, 2018 – Levi & Korsinsky, LLP announces a class action on behalf of shareholders who purchased shares of Pinduoduo Inc. (“Pinduoduo”) (NASDAQ: PDD) between July 26, 2018 and July 31, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information go to: http://www.zlk.com/pslra-1/pinduoduo-inc-loss-form or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The Pinduoduo complaint alleges that throughout the class period Defendants issued 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 suffered a loss in Pinduoduo you have until October 22, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.