WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Tuya Inc. (NYSE: TUYA) resulting from allegations that Tuya may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Tuya securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=7007 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information on the class action.
WHAT IS THIS ABOUT: In March 2021, Tuya conducted its initial public offering (“IPO”), selling 43.59 million American depositary shares (“ADSs”) priced at $21.00 per ADS.
Then, on August 18, 2021, before trading hours, Tuya reported its financial results for the second quarter of 2021. Among other things, Tuya provided sales guidance of between $83 million and $86 million, falling well short of consensus expectations of $110 million. On this news, Tuya’s ADS price fell $2.85 per ADS, or 19%, to close at $12.15 per ADS on August 18, 2021.
The ADSs closed at $2.96 per ADS on June 14, 2022, representing an 86% decline from its IPO price.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20220615005972/en/
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827