The law firm of Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of shareholders of Full Truck Alliance Co. Ltd. (NYSE: YMM) (“FTA”).
FTA was formed in 2017 from a merger between freight services providers Guiyang Huochebang Technology Co Ltd and Beijing Yunmanman Technology Co Ltd. FTA’s platform connects truckers with shipping customers to facilitate shipments of different sizes across China.
On July 5, 2021, FTA issued a press release stating 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.” The press release further stated that “[i]n 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, FTA’s American Depository Share price opened at $15.22 on July 6, 2021, $3.80 lower than the prior closing price of $19.02 on July 2, 2021.
If you are an FTA investor and would like to learn more about our investigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; via e-mail at firstname.lastname@example.org; or please visit the following link to fill out our online form https://www.ktmc.com/new-cases/full-truck-alliance-co-ltd-investigation?utm_source=PR&utm_medium=link&utm_campaign=full_truck
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087