The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Southern District of California on behalf of shareholders of TuSimple Holdings Inc. who purchased : (a) common stock pursuant and/or traceable to documents issued in connection with TuSimple’s April 15, 2021 initial public offering; and/or (b) securities between April 15, 2021 and August 1, 2022.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that:
(i) TuSimple’s commitment to safety was significantly overstated and defendants concealed fundamental problems with the Company’s technology; (ii) TuSimple was rushing the testing of its autonomous driving technology in order to deliver driverless trucks to the market ahead of its more safety-conscious competitors; (iii) there was a corporate culture within TuSimple that suppressed or ignored safety concerns in favor of unrealistically ambitious testing and delivery schedules; (iv) the aforementioned conduct made accidents involving the Company’s autonomous driving technology more likely; (v) the aforementioned conduct invited enhanced regulatory scrutiny and investigatory action toward the Company; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until October 31, 2022 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.