NASDAQ: TSP

TuSimple Holdings Inc.

Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of TuSimple Holdings Inc. (NASDAQ: TSP): (i) pursuant and/or traceable to the offering documents issued in connection with the Company’s initial public offering conducted on or about April 15, 2021 (the “IPO”); and/or (ii) between April 15, 2021 and August 1, 2022, both dates inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court no later than October 31, 2022.

If you purchased TuSimple securities and would like to join the action, please click “Join This Class Action.”

Class Period:Pursuant and/or traceable to the Company's IPO and/or April 15, 2021 through August 1, 2022

Deadline:

25 Days
If you purchased TuSimple securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

According to the lawsuit, the IPO documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Additionally, the complaint alleges that, throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, the IPO documents and defendants made false and/or misleading statements and/or failed to disclose that:

  • TuSimple’s commitment to safety was significantly overstated and defendants concealed fundamental problems with the Company’s technology;
  • TuSimple was rushing the testing of its autonomous driving technology in order to deliver driverless trucks to the market ahead of its more safety-conscious competitors;
  • there was a corporate culture within TuSimple that suppressed or ignored safety concerns in favor of unrealistically ambitious testing and delivery schedules;
  • the aforementioned conduct made accidents involving the Company’s autonomous driving technology more likely;
  • the aforementioned conduct invited enhanced regulatory scrutiny and investigatory action toward the Company; and
  • as a result, the Company’s public statements were materially false and misleading 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.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Company Name: TuSimple Holdings Inc.
Stock Symbol: TSP
Class Period: Pursuant and/or traceable to the Company's IPO and/or April 15, 2021 through August 1, 2022
Court: United States District Court for the Southern District of California

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