NEW ORLEANS, Oct. 11, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, is reminding investors they have until October 31, 2022 to file lead plaintiff motions in a securities class action lawsuit against TuSimple Holdings Inc. TSPif they purchased or otherwise acquired the Company’s securities between April 15, 2021 and August 1, 2022 inclusive (the “Collection Period”) and/or the Company’s stock pursuant to the Company’s IPO in April 2021 (the “IPO”) ). This lawsuit is pending in the United States District Court for the Southern District of California.
get help
TuSimple investors should visit us at https://claimsfiler.com/cases/nasdaq-tsp/ or call toll free (844) 367-9658. Kahn Swick & Foti, LLC attorneys are available to discuss your legal options.
About the lawsuit
TuSimple and certain of its officers are alleged to have failed to disclose material information during the Class Period and/or in the registration statement and prospectus issued in connection with the IPO, in violation of federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company has grossly exaggerated its commitment to security and has concealed fundamental issues with its technology; (ii) the company accelerated testing of its autonomous driving technology to bring driverless trucks to market ahead of its more safety-conscious competitors; (iii) the company’s corporate culture suppressed or ignored safety concerns in favor of unrealistically ambitious test and delivery schedules; (iv) the above behavior made accidents more likely with the Company’s autonomous driving technology; (v) the foregoing conduct would be likely to result in increased regulatory scrutiny and investigation of the Company; and (iv) as a result, the Company’s public statements were materially false and…
