BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf of DiDi Global Inc. (“DiDi” or the “Company”) (NYSE: DIDI) investors concerning the Company and its officers’ possible violations of federal securities laws.
On or about June 30, 2021, DiDi sold about 317 million shares of stock in its initial public stock offering (the "IPO") at $14 per share, raising nearly $4.5 billion in new capital.
On July 2, 2021, the Cyberspace Administration of China stated it had launched an investigation into DiDi to protect national security and the public interest. It also reported that it had asked DiDi stop new user registrations during the course of the investigation.
On this news, the Company’s stock price fell as much as $0.87 per share, or approximately 5.3%, to close at $15.53 per share on July 2, 2021, thereby injuring investors.
Then, on July 5, 2021, The Wall Street Journal reported that Chinese regulators asked the Company as early as three months ago to delay the IPO because of national security concerns and to “conduct a thorough self-examination of its network security.”
On this news, the Company’s stock price fell as much as $3.23 per share, or 20%, during intraday trading on July 6, 2021 to as low as $12.30 per share, which is more than 12% below the IPO price, thereby injuring investors further.
If you purchased DiDi 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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