BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Full Truck Alliance Co. Ltd. (“FTA” or the “Company”) (NYSE: YMM) investors concerning the Company’s possible violations of federal securities laws.
On or about June 22, 2021, FTA sold about 82.5 million American Depositary Shares (“ADSs” or “shares”) in its initial public offering (the “IPO”) for $19 per share, raising nearly $1.6 billion in new capital.
On July 5, 2021, FTA reported that the Company was subject to a review by the Cyberspace Administration of China and that “FTA’s Yunmanman apps and Huochebang apps . . . are required to suspend new user registration in China during the review period.”
On this news, the Company’s ADS price fell as much as $3.27 per share, or 17.19%, during intraday trading on July 6, 2021 to as low as $15.75 per share, which is below the IPO price, thereby injuring investors further.
If you purchased FTA 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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