SAN DIEGO, July 09, 2021 (GLOBE NEWSWIRE) -- Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against Full Truck Alliance Co. Ltd. ("FTA" or the "Company") (NYSE: YMM) for violations of federal securities laws.
On or about June 22, 2021, FTA sold about 82.5 million shares of stock in its initial public stock offering (the "IPO") at $19 a share, raising nearly $1.6 billion in new capital.
Then on July 5, 2021, FTA reported: "that pursuant to an announcement issued by the Cybersecurity Review Office ("CRO") of the Cyberspace Administration of China on July 5, 2021, CRO has initiated a cybersecurity review of FTA's Yunmanman apps and Huochebang apps. In order to facilitate the review and prevent the expansion of potential risks, these mobile apps are required to suspend new user registration in China during the review period."
Following this news, on July 6, 2021, FTA stock closed down 6.68%.
Specifically, Johnson Fistel's investigation seeks to determine whether the Company's filings with the U.S. Securities and Exchange Commission in connection with its June 2021 IPO and subsequent investor communications contained untrue statements of material facts or omitted to state other facts necessary to make the statements made therein not misleading concerning the Company's business, and operations.
If you have information that could assist in this investigation, or if you are an FTA shareholder and are interested in learning more about the investigation, please contact Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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