Class Action Cases

Pinduoduo Inc.

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According to the Complaint, the Company made false and misleading statements to the market. Pinduoduo’s controls on third-party sellers using its online platform were not effective in stopping the sale of counterfeit goods. The Company’s revenue performance could not be sustained because it was based in part on the sale of illegal counterfeit goods by certain third parties. Based on these facts, the Company’s public statements were false and materially misleading throughout the IPO period. When the market learned the truth about Pinduoduo, investors suffered damages.

Press Release

IMPORTANT INVESTOR NOTICE: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Pinduoduo Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

Los Angeles, August 22, 2018 — The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Pinduoduo Inc. (“Pinduoduo” or “the Company”) (NASDAQ: PDD) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s shares pursuant and/or traceable to the Company’s initial public offering (“IPO”) on or around July 26, 2018, are encouraged to contact the firm before October 22, 2018.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Pinduoduo’s controls on third-party sellers using its online platform were not effective in stopping the sale of counterfeit goods. The Company’s revenue performance could not be sustained because it was based in part on the sale of illegal counterfeit goods by certain third parties. Based on these facts, the Company’s public statements were false and materially misleading throughout the IPO period. When the market learned the truth about Pinduoduo, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
Sherin Mahdavian, Esq.,
www.schallfirm.com
310-301-3335
info@schallfirm.com

SOURCE:
The Schall Law Firm