Didi Chuxing sued by American shareholders over stock plunge caused by Chinese regulatory changes, data-collection inquiry

Source: Tech – South China Morning PostDidi Chuxing is facing a new problem: angry American shareholders.The operator of China’s dominant ride-hailing app is facing at least two lawsuits filed in courts in New York and Los Angeles this week and investigations by at least half a dozen law firms seeking to bring additional class-action litigation against the company and its underwriters after its shares plunged.Last week, the Chinese Administration of Cyberspace (CAC) announced it was conducting a review of Didi’s data-collection…Read More

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