An investigation on behalf of investors in Tuya Inc. (NYSE:TUYA) shares over potential wrongdoing at Tuya Inc. was announced.
San Diego, CA -- (SBWIRE) -- 06/30/2022 -- Certain directors of Tuya Inc. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Tuya Inc. (NYSE: TUYA) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Tuya Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
China based Tuya Inc. operates an Internet of Things (IoT) cloud platform worldwide.
Tuya Inc. reported that its annual Total Revenue rose from $105.78 million in 2019 to $179.87 million in 2020, and that its Net Loss declined from $70.47 million in 2019 to $66.91 million in 2020.
On or around March 18, 2021, Tuya Inc conducted its initial public offering ("IPO"), selling 43.59 million American depositary shares ("ADSs") priced at $21.00 per share.
On August 19, 2021, Tuya Inc reported its financial results for the second quarter of 2021. Among other items, Tuya provided sales guidance of between $83 million and $86 million, falling well short of consensus expectations of $110 million.
Since the IPO shares of Tuya Inc. (NYSE: TUYA) declined to as low as $1.75 per share on March 15, 2022.
Those who purchased shares of Tuya Inc. (NYSE: TUYA) have certain options and should contact the Shareholders Foundation.
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