PDD Holdings Inc. f/k/a Pinduoduo Inc. (NASDAQ: PDD) Securities Fraud Class Action

Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired PDD Holdings Inc. (“PDD”) (NASDAQ: PDD) f/k/a Pinduoduo Inc. American Depositary Shares (“ADS”) between April 30, 2021 and August 23, 2024, inclusive (the “Class Period”).

The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose information relating to two main issues which materially affect its core operations.  The first pertains to PDD’S applications and that they contained malware which was designed to obtain user data without the user’s consent, including reading private text messages.  The second pertains to PDD’s failure to implement a system to prevent goods made by forced labor from being sold on its platform. As a result of such failure, PDD has openly sold banned products on its Temu platform.

Current Status of Case:
On September 26, 2025, Defendants filed a Motion to Dismiss the Amended Complaint. The Motion has been fully briefed and is pending decision before the Court. This action is ongoing.

If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at [email protected]. If you would like additional information about the suit, please click on the link “Submit Your Information” above and fill out the form as promptly as possible.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs’ Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.