TUYA Investors Have Opportunity To Lead Tuya Inc. Securities...| MENAFN.COM

Sunday, 25 September 2022 04:50 GMT

TUYA Investors Have Opportunity To Lead Tuya Inc. Securities Fraud Lawsuit'


(MENAFN- PR Newswire)

BENSALEM, Pa., Sept. 23, 2022 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Tuya Inc. ('Tuya' or the 'Company') ( NYSE: TUYA ).

Class Period: March 2021 IPO Lead Plaintiff Deadline: October 11, 2022

Investors suffering losses on their Tuya investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected] .

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors: (1) 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; (2) 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, inter alia, the exposure of 13 million records of organized fake review scams linked to over 200,000 Amazon account profiles; (3) that, as a result of above, 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 (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected] , or visit our website at .

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Howard G. SmithHoward G. Smith, Esquire215-638-4847888-638-4847[email protected]

SOURCE Law Offices of Howard G. Smith

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