investors can Contact the law firm for free to learn more about recovering their losses
LOS ANGELES, Sept. 15, 2022 (GLOBE NEWSWIRE) — The law firm of Portnoy advises Tuya Inc. (“Tuya” or the “Company”) TUJA Investors that a class action lawsuit has been filed on behalf of investors. Tuya investors who have lost money investing are encouraged to do so Contact Lesley Portnoy, Esq.
Investors are encouraged to contact an attorney Lesley F Portnoyby phone 844-767-8529 or E-mail: lesley@portnoylaw.comto discuss your legal rights, or click here to join the case about www.portnoylaw.com. Portnoy Law Firm can provide a free case assessment and discuss investors’ options for making claims to recover their losses.
The lawsuit alleges that the defendants misrepresented and/or withheld that: (a) a substantial portion of Tuya’s China-based customers engaged in the widespread and systematic manipulation of reviews and product listings in violation of the Terms of Service of Amazon.com was involved; (b) prior to the IPO, a consumer investigation and data breach had uncovered an illegal system of fake reviews, carried out by many of Tuya’s customers, among others, which included disclosing 13 million records of organized fake reviews fraud related to over 200,000 Amazon account profiles; (c) As a result of (a) and (b) above, there was a significant risk that a significant portion of Tuya’s significant customers would be excluded from using Amazon.com’s platform, adversely affecting the business, revenue, the impacted Tuya’s revenue and prospects; and (d) as a consequence of (a)-(c) above, the registration statement’s representations regarding Tuya’s historical financial and operational metrics and purported market opportunities and anticipated growth do not accurately reflect actual business, operations, financial results and development of the Company at the time of the IPO and such statements were materially false and misleading and…
