NEW YORK, Aug. 01, 2018 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Pinduoduo Inc. (“Pinduoduo” or the “Company”) (NASDAQ: PDD).   Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.

The investigation concerns whether Pinduoduo and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here to join a class action]

On July 31, 2018 and August 1, 2018, media outlets reported that China’s State Administration for Market Regulation is investigating Pinduoduo after reports of third-party vendors selling counterfeit goods on the Company’s group-discounting website.  On this news, Pinduoduo’s American depositary share price fell sharply during intraday trading on August 1, 2018.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com .

CONTACT:  Robert S. Willoughby Pomerantz LLP  rswilloughby@pomlaw.com   888-476-6529 ext. 9980