NEW
YORK, Sept. 21, 2022 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders of Tuya
Inc..
Shareholders who purchased shares of TUYA during the class
period listed are encouraged to contact the firm regarding possible
lead plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/tuya-inc-loss-submission-form/?id=31952&from=4
CLASS PERIOD: This lawsuit is on behalf of all persons or
entities who purchased Tuya American Depositary Shares in or
traceable to the Company's March 2021
initial public offering.
ALLEGATIONS: The complaint alleges that during the class
period, Defendants issued materially false and/or misleading
statements and/or failed to disclose that: (a) a material portion
of Tuya's China-based customers
were engaged in the widespread and systematic manipulation of
reviews and product offerings in violation of Amazon.com's terms of
use; (b) prior to the initial public offering, a consumer
investigation and data breach had exposed an illicit fake review
scheme being perpetrated by many of Tuya's clients, among others,
which included, inter alia, the exposure of 13 million records of
organized fake review scams linked to over 200,000 Amazon account
profiles; (c) as a result of (a) and (b) above, there was a
substantial risk that a material portion of Tuya's significant
customers would be barred from using Amazon.com's platform,
negatively impacting Tuya's business, revenue, earnings, and
prospects; and (d) as a result of (a)-(c) above, the registration
statement's representations regarding Tuya's historical financial
and operational metrics and purported market opportunities and
expected growth did not accurately reflect the actual business,
operations, financial results, and trajectory of the Company at the
time of the initial public offering, and such statements were
materially false and misleading and lacked a reasonable factual
basis.
DEADLINE: October 11, 2022
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/tuya-inc-loss-submission-form/?id=31952&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of TUYA during the timeframe
listed above, you will be enrolled in a portfolio monitoring
software to provide you with status updates throughout the
lifecycle of the case. The deadline to seek to be a lead plaintiff
is October 11, 2022. There is no cost
or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law Firm is
committed to ensuring that companies adhere to responsible business
practices and engage in good corporate citizenship. The firm seeks
recovery on behalf of investors who incurred losses when false
and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
View original
content:https://www.prnewswire.com/news-releases/shareholder-alert-the-gross-law-firm-notifies-shareholders-of-tuya-inc-of-a-class-action-lawsuit-and-a-lead-plaintiff-deadline-of-october-11-2022--nyse-tuya-301628886.html
SOURCE The Gross Law Firm