NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of those who acquired Full Truck Alliance Co. Ltd. (“FTA” or the “Company”) (NYSE: YMM) American Depositary Shares (“ADSs”) from June 19, 2021 through July 12, 2021, inclusive (the “Class Period”). Investors have until September 10, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On or about June 22, 2021, FTA sold about 82.5 million ADSs 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 declined by $1.27 per ADS, or approximately 6.7%, from $19.02 per ADS on July 2, 2021 to close at $17.75 per ADS on July 6, 2021, which is approximately 6.6% below the IPO price, thereby injuring investors.
If you purchased or otherwise acquired FTA ADSs, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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