Skip to Content

Full Truck Alliance Co. Ltd.

Company NameFull Truck Alliance Co. Ltd.
Stock SymbolYMM
Lead Plaintiff Motion DeadlineSeptember 10, 2021

In June 2021, FTA sold about 82.5 million American Depositary Shares (“ADSs” or “shares”) in its 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 (“CAC”) 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 fell $1.27 per share, or 6.67%, to close at $17.75 per share on July 6, 2021, significantly below the IPO price, thereby injuring investors.

The complaint filed in this class action alleges that the Registration Statement made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose that: (1) FTA’s apps Yunmanman and Huochebang would face an imminent cybersecurity review by the CAC; (2) the CAC would require FTA to suspend new user registration; (3) FTA needed to conduct a “comprehensive self-examination of any cybersecurity risks”; (4) FTA needed to “continue to improve its cybersecurity systems and technology capabilities”; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

 

Submit Your Information

If you suffered a loss on your Full Truck Alliance Co. Ltd. investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.

Shares Purchased

Number of SharesBuy DatePrice Per ShareAdd

Shares Sold

Number of SharesSell DatePrice Per ShareAdd