The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased TuSimple Holdings Inc. (NASDAQ: TSP) (a) securities pursuant and/or traceable to documents issued in connection with TuSimple’s April 15, 2021 initial public offering; and/or (b) securities between April 15, 2021 and October 31, 2022, both dates inclusive.
According to the TuSimple lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) TuSimple was engaged in undisclosed related party transactions with Hydron, a company founded by TuSimple's co-founder, Mo Chen; (2) TuSimple shared confidential information and/or proprietary technology with Hydron without the approval of TuSimple's board of directors or informing regulators or TuSimple shareholders; (3) TuSimple failed to disclose the internal investigation by its board of directors into the Company's ties to Hydron, which commenced in July 2022; (4) the aforementioned conduct enhanced the likelihood of regulatory scrutiny and investigatory action toward the Company; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in TuSimple you have until January 9, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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