NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Pinduoduo Inc. (NASDAQ:PDD) resulting from allegations that Pinduoduo may have issued materially misleading business information to the investing public.
On July 31, 2018 and August 1, 2018, media outlets reported that China’s Statement Administration for Market Regulation ordered Shanghai’s Industry and Commerce Bureau to investigate Pinduoduo after reports that third-party vendors were selling counterfeit goods on Pinduoduo’s group-discounting website. On this news, the price of Pinduoduo’s securities fell sharply during intraday trading on August 1, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Pinduoduo investors. If you purchased shares of Pinduoduo please visit the firm’s website at http://www.rosenlegal.com/cases-1390.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or zhalper@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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