TuSimple Lawsuit TSP | Deadline January 9, 2023
TuSimple Class Action Lawsuit (TSP Lawsuit)
A lawsuit has been filed against TuSimple Holdings Inc., (TSP:NASDAQ) on November 10, 2022 at the court of the Southern District of New York.
Investors who purchased or otherwise acquired TSP common stock during the period from April 15, 2021 through October 31, 2022 can register their information before the deadline of January 9, 2023.
Is TuSimple Holdings Inc. Involved in a Securities Class Action Lawsuit?
Yes, a lawsuit has been filed against TuSimple Holdings Inc. on November 10, 2022, on behalf of shareholders during the period from April 15, 2021 through October 31, 2022.
What Is The TuSimple Lawsuit About?
The TuSimple Class Action Lawsuit (NASDAQ:TSP) (TuSimple Class Action Lawsuit) was filed on behalf of the investors who purchased TuSimple holdings Inc. (TSP) securities between April 15, 2021 to October 31, 2022 inclusive. For more on the TSP Lawsuit please contact us today.
According to the TuSimple lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
made false and/or misleading statements and/or failed to disclose that:
misleading statements and/or failed to disclose that:
(1) TuSimple was engaged in undisclosed related party transactions with Hydron, a company founded by Defendant Chen;
(2) TuSimple shared confidential information and/or proprietary technology with Hydron without Board approval or informing regulators or TuSimple shareholders;
(3) TuSimple failed to disclose the Board’s internal investigation, which commenced in July 2022, into TuSimple’s ties to Hydron;
(4) the aforementioned conduct enhanced the likelihood of regulatory scrutiny and investigatory action toward the Company; and
(5) as a result, the Company’s public statements were materially false and misleading at all relevant times.
How much did TSP stock drop?
Shareholders who held TSP securities saw stock prices fell $2.88, o 2022, at $3.43 per share.
As of the date of the filing of this Complaint, TuSimple shares traded as low as $2.61 per share, representing a decline of over 93% from the $40 IPO offering price.
What does TSP Do?
TuSimple Holdings Inc., an autonomous technology company, develops autonomous technology specifically designed for semi-trucks in the United States and internationally.
It intends to produce a line of purpose-built (Level 4) L4 autonomous semi-trucks for the North American market. The company operates its Autonomous Freight Network (AFN) L4 autonomous semi-trucks equipped with its autonomous driving technology.
Its AFN is an ecosystem that consists of L4 autonomous semi-trucks, high definition digital mapped routes, terminals, and TuSimple Connect, a cloud-based autonomous operations oversight system.
The company was founded in 2015 and is headquartered in San Diego, California.
Which Class Action Attorney Firm Can Help With The TSP Lawsuit?
Levi & Korsinsky LLP is a Securities Class Action Law Firm. For over 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
Does It Cost Me to Join the TSP Class Action?
No, there are no out of pocket costs for you to join the TuSimple Lawsuit.
What Is the Lead Plaintiff Process?
According to the Private Securities Reform Act of 1995, any investor who bought or acquired TSP securities in the Class Period may apply for appointment as a lead plaintiff. The lead plaintiff is usually the movant who has the most financial interest in the relief sought. However, he or she must also be typical or adequate to the putative classes. The TSP class-action lawsuit is directed by the lead plaintiff. To litigate the TuSimple Class Action Lawsuit, the lead plaintiff may choose any law firm it wishes. The ability of an investor to share in any future recovery is not tied to being the lead plaintiff in the TSP Class Action Lawsuit.
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