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Robbins Arroyo LLP: Pinduoduo Inc. (PDD) Misled Shareholders According to a Recently Filed Class Action

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Shareholder rights law firm Robbins
Arroyo LLP
announces that purchasers of Pinduoduo Inc. (NasdaqGS: PDD) have filed a class action complaint against the company's officers
and directors for alleged violations of the Securities Act of 1933 in
connection with the company's July 2018 initial public offering ("IPO").
Pinduoduo operates an e-commerce platform in the People's Republic of
China.

View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/pinduoduo-inc/

Pinduoduo Accused of Failing to Prevent Counterfeit Products on
Its Platform

According to the complaint, on July 26, 2018, Pinduoduo completed its
IPO, offering 85.6 million American Depositary Shares ("ADSs") priced at
$19 per share and raising $1.63 billion. In the company's prospectus,
Pinduoduo stated that its large buyer base attracted merchants to the
company's platform, and the scale of the company's sales volume
encouraged merchants to offer even more competitive pricing to buyers.
However, Pinduoduo's controls could not prevent vendors from selling
counterfeit products on the platform. On July 31, 2018, media outlets
reported that Chinese regulators were investigating Pinduoduo after
reports of third-party vendors selling counterfeit goods on its online
marketplace. Pinduoduo's ADS price has since declined and currently
trades below the IPO price.

Pinduoduo Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form
on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Sign up for our FREE
portfolio monitoring service, Stock
Watch
.

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