The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Full Truck Alliance Co. Ltd. (NYSE: YMM) who purchased pursuant and/or traceable to the registration statement and related prospectus issued in connection with Full Truck’s June 2021 initial public offering. The action, which was filed in the United States District Court for the Eastern District of New York, alleges that the Company violated federal securities laws.
In particular, the Full Truck lawsuit alleges that (1) Full Truck’s apps Yunmanman and Huochebang would face an imminent cybersecurity review by the Chinese government; (2) the Chinese government would require Full Truck to suspend new user registration; (3) FTA needed to conduct a “comprehensive self-examination of any cybersecurity risks”; (4) Full Truck needed to “continue to improve its cybersecurity systems and technology capabilities”; and (5) as a result, Defendants’ public statements were materially false and misleading at all relevant times and negligently prepared.
Shareholders have until September 10, 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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