NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Full Truck Alliance Co. Ltd. (NYSE: YMM) on behalf of Full Truck Alliance stockholders. Our investigation concerns whether Full Truck Alliance has violated the federal securities laws and/or engaged in other unlawful business practices.
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Full Truck Alliance (“FTA”) was formed in 2017 from a merger between freight services providers Guiyang Huochebang Technology Co Ltd and Beijing Yunmanman Technology Co Ltd. FTA’s platform connects truckers with shipping customers to facilitate shipments of different sizes across China.
On July 5, 2021, FTA issued a press release stating that “pursuant to an announcement issued by the Cybersecurity Review Office (“CRO”) of the Cyberspace Administration of China on July 5, 2021, CRO has initiated a cybersecurity review of FTA’s Yunmanman apps and Huochebang apps.” The press release further stated that “[i]n order to facilitate the review and prevent the expansion of potential risks, these mobile apps are required to suspend new user registration in China during the review period.”
Following this news, FTA’s American Depository Share price opened at $15.22 on July 6, 2021, $3.80 lower than the prior closing price of $19.02 on July 2, 2021.
If you purchased or otherwise acquired Full Truck Alliance shares and suffered a loss, are a long-term stockholder, have information, 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 Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.