ATLANTA, GA – – (Globe Newswire – August 14, 2024) – – A shareholder class action lawsuit has been filed against PDD Holdings Inc. (“PDD” or the “Company”) (NASDAQ: PDD) f/k/a Pinduoduo Inc. The lawsuit alleges that Defendants made materially false and/or misleading statements and/or failed to disclose material adverse facts regarding the Company’s business, operations, and prospects, including allegations that: (1) PDD’s applications contained malware, which was designed to obtain user data without the user’s consent, including reading private text messages; (2) PDD has no meaningful system to prevent goods made by forced labor from being sold on its platform, and has openly sold banned products on its Temu platform; and (3) the foregoing subjected the Company to a heightened risk of legal and political scrutiny.

If you bought shares of PDD between April 30, 2021 and June 25, 2024, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey D. Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at http://holzerlaw.com/case/pdd-holdings/ to learn more.

The deadline to ask the court to be appointed lead plaintiff in the case is October 15, 2024.