SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Tuya Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of October 11, 2022 - (NYSE: TUYA)

NEW YORK, Sept. 21, 2022 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Tuya Inc..

Shareholders who purchased shares of TUYA during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.

CONTACT US HERE:

https://securitiesclasslaw.com/securities/tuya-inc-loss-submission-form/?id=31952&from=4

CLASS PERIOD: This lawsuit is on behalf of all persons or entities who purchased Tuya American Depositary Shares in or traceable to the Company's March 2021 initial public offering.

ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (a) a material portion of Tuya's China-based customers were engaged in the widespread and systematic manipulation of reviews and product offerings in violation of Amazon.com's terms of use; (b) prior to the initial public offering, a consumer investigation and data breach had exposed an illicit fake review scheme being perpetrated by many of Tuya's clients, among others, which included, inter alia, the exposure of 13 million records of organized fake review scams linked to over 200,000 Amazon account profiles; (c) as a result of (a) and (b) above, there was a substantial risk that a material portion of Tuya's significant customers would be barred from using Amazon.com's platform, negatively impacting Tuya's business, revenue, earnings, and prospects; and (d) as a result of (a)-(c) above, the registration statement's representations regarding Tuya's historical financial and operational metrics and purported market opportunities and expected growth did not accurately reflect the actual business, operations, financial results, and trajectory of the Company at the time of the initial public offering, and such statements were materially false and misleading and lacked a reasonable factual basis.

DEADLINE: October 11, 2022 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/tuya-inc-loss-submission-form/?id=31952&from=4

NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of TUYA during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is October 11, 2022. There is no cost or obligation to you to participate in this case.

WHY GROSS LAW FIRM? The Gross Law Firm is nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [e-mail]
Phone: [phone]

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SOURCE The Gross Law Firm

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