The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Didi Global Inc. F/K/A Xiaoju Kuaizhi Inc. (NYSE: DIDI) who purchased : (a) American Depositary Shares pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s June 2021 initial public offering; and/or (b) securities between June 30, 2021 and July 21, 2021, inclusive. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Didi Global lawsuit alleges that
(1) DiDi’s apps did not comply with applicable laws and regulations governing privacy protection and the collection of personal information; (2) as a result, the Company was reasonably likely to incur scrutiny from the Cyberspace Administration of China; (3) the CAC had already warned DiDi to delay its IPO to conduct a self-examination of its network security; (4) as a result of the foregoing, DiDi’s apps were reasonably likely to be taken down from app stores in China, which would have an adverse effect on its financial results and operations; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Shareholders have until September 7, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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