NEW YORK, Sept. 27, 2018 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Pinduoduo Inc. (NASDAQ: PDD) pursuant and/or traceable to Pinduoduo's initial public offering ("IPO") conducted on or around July 26, 2018 of the October 22, 2018 lead plaintiff deadline in the class action. The lawsuit seeks to recover damages for Pinduoduo investors under the federal securities laws.
To join the Pinduoduo class action, go to https://www.rosenlegal.com/cases-1390.html or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN 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.
According to the lawsuit, defendants during the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Pinduoduo's controls were ineffective at preventing third-party vendors from selling counterfeit goods on the company's online platform; (2) consequently, Pinduoduo's revenues were unsustainable because a number of active merchants using its platform were traceable in part to unlawful conduct; and (3) as a result, Pinduoduo's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 22, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to https://www.rosenlegal.com/cases-1390.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Zachary Halper, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
Laurence Rosen, Esq.
Phillip Kim, Esq.
Zachary Halper, Esq.
The Rosen Law Firm, P.A.
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New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
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SOURCE Rosen Law Firm, P.A.