Pinduoduo May Face Class-Action Suits in U.S.
Six U.S. law firms are looking into potential securities claims and may file class-action suits on behalf of people who bought Pinduoduo Inc. shares on Nasdaq, the firms said Thursday.
The threat of shareholder suits adds to setbacks for the Chinese discount e-commerce site. After Pinduoduo’s high-profile Nasdaq debut July 26, authorities in China opened investigations of the company for allegedly selling counterfeit goods. The stock fell to below the offering price.
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas