LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Tencent Holdings Limited (“Tencent” or the “Company”) (OTC: TCEHY) on behalf of investors concerning the Company’s possible violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to participate.
On March 12, 2021, Bloomberg published an article entitled “Tencent Faces Broad China Clampdown on Fintech, Deals,” reporting that “China’s top financial regulators see Tencent as the next target for increased supervision after the clamp down” on Ant Group Co. As a result, the Company would “probably be required to establish a financial holding company to include its banking, insurance, and payments services.”
On this news, the Company’s ADR price fell as much as $7, or nearly 8%, during intraday trading on March 12, 2021.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Tencent securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.