The Law Offices of Frank R. Cruz announces an investigation of Full Truck Alliance Co. Ltd. (“FTA” or the “Company”) (NYSE: YMM) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On or about June 22, 2021, FTA sold about 82.5 million American Depositary Shares (“ADSs” or “shares”) in its initial public offering (the “IPO”) for $19 per share, raising nearly $1.6 billion in new capital.
On July 5, 2021, FTA reported that the Company was subject to a review by the Cyberspace Administration of China and that “FTA’s Yunmanman apps and Huochebang apps . . . are required to suspend new user registration in China during the review period.”
On this news, the Company’s ADS price fell as much as $3.27 per share, or 17.19%, during intraday trading on July 6, 2021 to as low as $15.75 per share, which is below the IPO price, thereby injuring investors further.
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If you purchased FTA securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20210706005796/en/
The Law Offices of Frank R. Cruz Announces Investigation of Full Truck Alliance Co. Ltd. (YMM) on Behalf of Investors
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
