NEW YORK, Dec. 9, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of TuSimple Holdings Inc. (NASDAQ: TSP).
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This lawsuit is on behalf of all persons who: (a) purchased or otherwise acquired TuSimple securities pursuant and/or traceable to documents issued in connection with TuSimple's April 15, 2021 initial public offering ; and/or (b) purchased or otherwise acquired TuSimple securities between April 15, 2021 and October 31, 2022, both dates inclusive.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until January 9, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, TuSimple Holdings Inc. issued materially 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.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Jakubowitz Law