Press release
Investigation announced for Long-Term Investors in Tuya Inc. (NYSE: TUYA) over potential Wrongdoing
An investigation on behalf of current long term investors in Tuya Inc. (NYSE: TUYA) shares.
Investors who are current long term investors in 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 for investors in NYSE: TUYA stocks follows a lawsuit filed against Tuya Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: TUYA stocks, concerns whether certain Tuya directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the IPO's registration statement documents were materially false and misleading because they failed to disclose that a material portion of Tuya's China-based customers were engaged in the widespread and systematic manipulation of reviews and product offerings in violation of Amazon.com's terms of use, that prior to the IPO, a consumer investigation and data breach had exposed an illicit fake review scheme being perpetrated by many of Tuya's clients, among others, which included, among other things, the exposure of 13 million records of organized fake reviews linked to over 200,000 Amazon account , that as a result, there was a substantial risk that a material portion of Tuya's significant customers would be barred from using Amazon.com's platform, negatively impacting Tuya's business, revenue, earnings, and prospects; and that as such, the IPO's registration statement's representations regarding Tuya's historical financial and operational metrics and purported market opportunities and expected growth did not accurately reflect the actual business, operations, financial results, and trajectory of Tuya at the time of the IPO.
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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