Didi Chuxing sued by American shareholders over stock plunge caused by Chinese regulatory changes, data-collection inquiry

//Didi Chuxing sued by American shareholders over stock plunge caused by Chinese regulatory changes, data-collection inquiry

Didi Chuxing sued by American shareholders over stock plunge caused by Chinese regulatory changes, data-collection inquiry

Didi Chuxing is facing a new problem: angry American shareholders.The operator of China’s dominant ride-hailing app is facing at least two lawsuits filed in courts in New York and Los Angeles this week and investigations by at least half a dozen law firms seeking to bring additional class-action litigation against the company and its underwriters after its shares plunged.Last week, the Chinese Administration of Cyberspace (CAC) announced it was conducting a review of Didi’s data-collection…

Article by [author-name] (c) Big Tech - South China Morning Post - Read full story here.

By | 2021-07-08T04:07:03+00:00 July 8th, 2021|Technology|Comments Off on Didi Chuxing sued by American shareholders over stock plunge caused by Chinese regulatory changes, data-collection inquiry