Law Offices of Howard G. Smith announces an investigation on behalf of TuSimple Holdings Inc. (“TuSimple” or the “Company”) (NASDAQ: TSP) investors concerning the Company’s possible violations of federal securities laws.
On April 15, 2021, TuSimple conducted its initial public offering (“IPO”), selling 33.8 million class A common shares at $40.00 per share.
On October 30, 2022, The Wall Street Journal published an article reporting that TuSimple was being investigated by the FBI and SEC “into whether it improperly financed and transferred technology into a Chinese startup.”
Then, on October 31, 2022, TuSimple announced that its Board of Directors had terminated the Company’s Chief Executive Officer, President, and Chief Technology Officer, also removing him from his position as Chairman of the Board, effective immediately.
On this news, TuSimple’s stock fell $2.88 or 45.6%, to close at $3.43 per share on October 31, 2022, thereby injuring investors.
If you purchased TuSimple securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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Law Offices of Howard G. Smith
Howard G. Smith, Esquire