Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of shareholders of Full Truck Alliance Co. Ltd. (NYSE:YMM) (“FTA”).
FTA investors may receive additional information about the investigation by clicking the link "Submit Your Information" above.
FTA was formed in 2017 from a merger between freight services providers Guiyang Huochebang Technology Co Ltd and Beijing Yunmanman Technology Co Ltd. FTA’s platform connects truckers with shipping customers to facilitate shipments of different sizes across China.
On July 5, 2021, FTA issued a press release stating that “pursuant to an announcement issued by the Cybersecurity Review Office (“CRO”) of the Cyberspace Administration of China on July 5, 2021, CRO has initiated a cybersecurity review of FTA’s Yunmanman apps and Huochebang apps.” The press release further stated that “[i]n order to facilitate the review and prevent the expansion of potential risks, these mobile apps are required to suspend new user registration in China during the review period.”
Following this news, FTA’s American Depository Share price opened at $15.22 on July 6, 2021, $3.80 lower than the prior closing price of $19.02 on July 2, 2021.
If you have any questions or would like to discuss this investigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or toll-free at (844) 887-9500; or via e-mail at info@ktmc.com.