Levi & Korsinsky, LLP
CLASS ACTION UPDATE for WISH, REKR and DIDI: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, NY / ACCESSWIRE / July 16, 2021 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
WISH Shareholders Click Here: https://www.zlk.com/pslra-1/contextlogic-inc-loss-submission-form?prid=17737&wire=1
REKR Shareholders Click Here: https://www.zlk.com/pslra-1/rekor-systems-inc-f-k-a-novume-solutions-inc-loss-submission-form?prid=17737&wire=1
DIDI Shareholders Click Here: https://www.zlk.com/pslra-1/didi-global-inc-f-k-a-xiaoju-kuaizhi-inc-loss-submission-form?prid=17737&wire=1
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Contextlogic Inc. (NASDAQ:WISH)
This lawsuit is on on behalf of: i) all persons or entities who purchased or otherwise acquired securities of ContextLogic, Inc. ("ContextLogic") (NASDAQ: WISH) and/or sold put options of ContextLogic during the period from December 16, 2020 to May 12, 2021, inclusive; and/or (ii) all persons who purchased ContextLogic securities pursuant and/or traceable to the Company's initial public offering conducted on or about December 16, 2020.
Lead Plaintiff Deadline: July 16, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/contextlogic-inc-loss-submission-form?prid=17737&wire=1
In the registration statement and prospectus used to conduct the initial public offering and throughout the class period, defendants made materially false and misleading statements about the strength of ContextLogic's business operations and financial prospects by overstating its then-present monthly active users ("MAUs") and MAU growth trends.
Rekor Systems, Inc. f/k/a Novume Solutions, Inc. (NASDAQ:REKR)
REKR Lawsuit on behalf of: investors who purchased April 12, 2019 - May 25, 2021
Lead Plaintiff Deadline: August 30, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/rekor-systems-inc-f-k-a-novume-solutions-inc-loss-submission-form?prid=17737&wire=1
According to the filed complaint, during the class period, Rekor Systems, Inc. f/k/a Novume Solutions, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Rekor's automatic license plate recognition ("ALPR") technology and uninsured vehicle enforcement diversion ("UVED")-related business is outclassed by global competitors with an established, dominant market share; (ii) it was unlikely that states would pass legislation authorizing deals similar to Rekor's Oklahoma UVED partnership because of, inter alia, state and local privacy laws and related public concerns; (iii) Rekor's UVED partnership was not as profitable as Defendants had led investors to believe because of known impediments to enrollment rates and costs associated with the partnership; (iv) accordingly, Rekor had overstated its potential revenues, profitability, and overall ALPR- and UVED-related business prospects; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
Didi Global Inc. F/K/A Xiaoju Kuaizhi Inc. (NYSE:DIDI)
This lawsuit is on behalf of persons and entities that purchased or otherwise acquired DiDi: (a) American Depositary Shares pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's June 2021 initial public offering; and/or (b) securities between June 30, 2021 and July 2, 2021, inclusive.
Lead Plaintiff Deadline: September 7, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/didi-global-inc-f-k-a-xiaoju-kuaizhi-inc-loss-submission-form?prid=17737&wire=1
According to the filed complaint, (1) DiDi's apps did not comply with applicable laws and regulations governing privacy protection and the collection of personal information; (2) as a result, the Company was reasonably likely to incur scrutiny from the Cyberspace Administration of China; (3) the CAC had already warned DiDi to delay its IPO to conduct a self-examination of its network security; (4) as a result of the foregoing, DiDi's apps were reasonably likely to be taken down from app stores in China, which would have an adverse effect on its financial results and operations; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: Levi & Korsinsky, LLP
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