According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- DiDi “had the problem of collecting personal information in violation of relevant PRC [People’s Republic of China] laws and regulations”;
- DiDi’s app, DiDi Chuxing (Travel), would face an imminent cybersecurity review by the Cyberspace Administration of China (“CAC”);
- the CAC suggested DiDi delay its initial public offering (the “IPO”);
- the CAC would require all Chinese app stores to remove DiDi Chuxing; and
- as a result, defendants’ statements about DiDi’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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