An investigation on behalf of investors in PDD Holdings Inc. (NASDAQ: PDD) shares over potential wrongdoing at PDD Holdings Inc. was announced.
San Diego, CA -- (SBWIRE) -- 06/20/2023 -- An investigation was announced over potential breaches of fiduciary duties by certain directors at PDD Holdings Inc.
Investors who purchased shares of PDD Holdings Inc. (NASDAQ: PDD) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain PDD Holdings Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
Ireland based PDD Holdings Inc., a multinational commerce group, owns and operates a portfolio of businesses. On March 21, 2023, CNN published an article entitled "Google suspends Chinese shopping app Pinduoduo over malware." The CNN report stated, "Google has suspended Pinduoduo, a popular Chinese budget shopping app, from its Play Store after finding malware in versions of the app. In a Tuesday statement, Google said versions of the app that are not in the Play Store have been found to contain malware."
Then on April 3, 2023, CNN published an article entitled "'I've never seen anything like this:' One of China's most popular apps has the ability to spy on its users, say experts." The article stated, "[i]n a detailed investigation, CNN spoke to half a dozen cybersecurity teams from Asia, Europe and the United States — as well as multiple former and current Pinduoduo employees — after receiving a tipoff. Multiple experts identified the presence of malware on the Pinduoduo app that exploited vulnerabilities in Android operating systems. Company insiders said the exploits were utilized to spy on users and competitors, allegedly to boost sales."
Shares of PDD Holdings Inc. (NASDAQ: PDD) declined from $106.38 per share on January 27, 2023, to as low as $62.75 per share on May 03, 2023.
Those who purchased shares of PDD Holdings Inc. (NASDAQ: PDD) have certain options and should contact the Shareholders Foundation.
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