Tuya Class Action Lawsuit TUYA | Deadline October 11, 2022

Tuya Class Action Lawsuit

Tuya Inc. (TUYA) is facing a class action lawsuit (Tuya Class Action Lawsuit) alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: (a) a material portion of Tuya’s China-based customers were engaged in the widespread and systematic manipulation of reviews and product offerings in violation of Amazon.com’s terms of use; (b) prior to the initial public offering, a consumer investigation and data breach had exposed an illicit fake review scheme being perpetrated by many of Tuya’s clients, among others, which included, inter alia, the exposure of 13 million records of organized fake review scams linked to over 200,000 Amazon account profiles; (c) as a result of (a) and (b) above, there was a substantial risk that a material portion of Tuya’s significant customers would be barred from using Amazon.com’s platform, negatively impacting Tuya’s business, revenue, earnings, and prospects; and (d) as a result of (a)-(c) above, the registration statement’s representations regarding Tuya’s historical financial and operational metrics and purported market opportunities and expected growth did not accurately reflect the actual business, operations, financial results, and trajectory of the Company at the time of the initial public offering, and such statements were materially false and misleading and lacked a reasonable factual basis.

If you incurred a loss on TUYA American Depositary Shares purchased in or traceable to the Company’s March 2021 initial public offering, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the Southern District of New York, and our firm is reaching out to investors to discuss their legal rights.

If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.

You only have until October 11, 2022 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.

Tuya Class Action

New York, NY – (NewMediaWire) – October 5, 2022 – Rosen Law Firm, a global investor rights law firm, reminds buyers of Tuya Inc. (NYSE: TUYA) securities of the crucial October 11, 2022 lead plaintiff deadline. This reminder is made in connection with the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with Tuya’s March 2021 initial public offering (the “IPO”).

Tuya Lawsuit

Investors in Tuya Inc. (“Tuya” or the “Company”) (NYSE: TUYA) are being alerted to a class action securities complaint by Levi & Korsinsky, LLP. The action aims to recover losses for investors in Tuya who suffered harm as a result of suspected securities fraud. All individuals or organizations that acquired Tuya American Depositary Shares in the Company’s March 2021 first public offering or those who can be linked to it are parties to this case.

TUYA Class Action Lawsuit

Worldwide Internet of Things (IoT) cloud platform development is done by Tuya Inc. The company offers industry Software-as-a-Service, which enables businesses to deploy, connect, and manage various types of smart devices, as well as IoT Platform-as-a-Service, which enables brands, original equipment manufacturers, and developers to develop, launch, manage, and monetize smart devices and services. In order to create and maintain IoT experiences, it also provides a wide range of cloud-based value-added services to companies, developers, and end users. The business also offers finished smart devices for sale. It provides its solutions to the industries of smart homes, smart businesses, healthcare, education, agriculture, outdoor and sport, and entertainment. The business was established in 2014 and has its headquarters in Hangzhou, People’s Republic of China.

TUYA Class Action

In violation of Amazon.com’s terms of use, a significant portion of Tuya’s China-based clients were allegedly involved in widespread and systematic review and product offering manipulation; (b) prior to the company’s initial public offering, a consumer investigation and data breach had revealed an illegal fake review scheme that was being carried out by many of Tuya’s clients, among others, and that included, among other things, the exposure of 13 million records of opportunistic reviewers; and  (d) as a result of (a)-(c) above, the registration statement’s claims about Tuya’s historical financial and operational metrics, as well as about alleged market opportunities and expected growth, did not accurately reflect the Company’s actual business, operations, financial results, and trajectory at the time of the initial public offering. These claims were both materially false and misleading, and they lacked a reasonable factual basis.

TUYA Lawsuit

latform-as-a-Service, or PaaS, and Software-as-a-Service, or SaaS, are only two of the services that Tuya’s purpose-built “Internet of Things” cloud platform offers to companies and developers. With the use of the company’s exclusive goods and services, “smart gadgets,” such as internet-connected furniture and appliances, may communicate and engage with customers as well as online content and services.

TUYA stock

According to the plaintiff, Tuya’s IPO documents “failed to disclose that: (1) a material portion of Tuya’s China-based customers were engaged in the widespread and systematic manipulation of reviews and product offerings in violation of Amazon.com’s terms of use; (2) prior to the IPO, a consumer investigation and data breach had exposed 13 million records of organized fake review scams linked to over 200,000 Amazon account profiles; and (3) as a result, there was a subsequent violation of Amazon.com’s

Tuya Inc. Class Action Lawsuit
Tuya Inc. Lawsuit
TUYA Class Action Lawsuit
TUYA Lawsuit
Tuya Inc. (TUYA) Class Action Lawsuit

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