The Law Offices of Frank R. Cruz Continues Investigation of DiDi Global Inc. (DIDI) on Behalf of Investors
The Law Offices of Frank R. Cruz Continues Investigation of DiDi Global Inc. (DIDI) on Behalf of Investors
LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of DiDi Global Inc. (“DiDi” or the “Company”) (NYSE: DIDI) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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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.
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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 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 info@frankcruzlaw.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.
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
