Bronstein, Gewirtz & Grossman, LLC Notifies TuSimple Holdings Inc. (TSP) Investors of Class Action and to Actively Participate

/EIN News/ -- NEW YORK, Nov. 28, 2022 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against TuSimple Holdings Inc. (“TuSimple” or “the Company”) (NASDAQ: TSP) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired TuSimple (1) pursuant and/or traceable to the Registration Statement and Prospectus (collectively, the “Registration Statement”) issued in connection with TuSimple’s April 15, 2021 initial public offering (“IPO”); and/or (2) between April 15, 2021 and October 31, 2022, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/tsp.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.

The Complaint alleges that throughout the Class Period and in connection with the IPO effected by means of the Registration Statement, Defendants made materially false or misleading statements and/or failed to disclose that: (1) TuSimple was engaged in undisclosed related party transactions with Hydron, a company founded by Defendant Mo Chen; (2) TuSimple shared confidential information and/or proprietary technology with Hydron without Board approval or informing regulators or TuSimple shareholders; (3) TuSimple failed to disclose the Board’s internal investigation, which commenced in July 2022, into TuSimple’s ties to Hydron; (4) the aforementioned conduct enhanced the likelihood of regulatory scrutiny and investigatory action toward the Company; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/tsp or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in TuSimple you have until January 9, 2023 to request that the Court appoint you as lead plaintiff.  Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits.  The firm has recovered hundreds of millions of dollars for investors nationwide.  Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | info@bgandg.com