According to the lawsuit, the Registration Statement featured false and/or misleading statements and/or failed to disclose that: (1) FTAs apps Yunmanman and Huochebang would face an imminent cybersecurity review by the CAC; (2) the CAC would require FTA to suspend new user registration; (3) FTA needed to conduct a comprehensive self-examination of any cybersecurity risks; (4) FTA needed to continue to improve its cybersecurity systems and technology capabilities; and (5) as a result, defendants public statements were materially false and misleading at all relevant times and negligently prepared. When the true details entered the market, the lawsuit claims that investors suffered damages.
For More information as well as to join this case please contact Atara Twersky, Esq. at [email protected]. Atara is Principal at Twersky Law Group and Of counsel at AF&T law firm where she is director of Investor Services. Atara focuses her practice on assisting her clients with increasing their portfolio recoveries and ensuring that their portfolios remain healthy and robust. For more information on shareholder recoveries click here and to listen to Atara’s podcast with notable guests in the Pension fund Industry listen to Pension Trends Plus, on all matters related to your investment portfolio and more. For more information on Atara and her legal work connected to shareholder protection click here