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Investigation announced for NYSE: TUYA shares over possible Wrongdoing at Tuya Inc.

10-14-2021 04:10 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in Tuya Inc. (NYSE: TUYA) shares over potential wrongdoing at Tuya Inc. was announced.

An investigation on behalf of investors in Tuya Inc. (NYSE: TUYA) shares over potential wrongdoing at Tuya Inc. was announced.

An investigation on behalf of current long-term investors in shares of Tuya Inc. (NYSE: TUYA) was announced over potential breaches of fiduciary duties by certain officers and directors at Tuya Inc.

Investors who purchased shares of Tuya Inc. (NYSE: TUYA) and currently hold any of those Tuya Inc. (NYSE: TUYA shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com 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.

Shares of Tuya Inc. (NYSE: TUYA) declined to as low as $9.46 per share on August 27, 2021.

Those who purchased shares of Tuya Inc. (NYSE: TUYA) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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