Class Action Lawsuit Filed Against Ryde Group Ltd. Over Alleged Pump-and-Dump Scheme
Pomerantz LLP has announced a class action lawsuit against Ryde Group Ltd. (NYSE: RYDE) following a massive collapse in its stock price. The litigation alleges that the company and its officers may have engaged in securities fraud through an illicit 'pump-and-dump' scheme orchestrated via social media. According to the complaint, fraudulent promoters used impersonated financial advisors to spread baseless claims, driving the share price from an IPO of $4.00 to a peak of $22.49 without fundamental business justification. The stock experienced a sudden 75% crash on September 11, 2024, falling to $5.50, and has since continued its decline to approximately $0.50 per share. Investors who purchased Ryde securities during the class period have until November 9, 2026, to move for appointment as lead plaintiffs in the legal action.
Topics: Class Action Lawsuit Pump and Dump Scheme Securities Fraud Stock Price Collapse
Read the full article at PR Newswire
Part of the story Class Action Lawsuit Filed Against Chemours Company Over Alleged Misleading Statements Regarding Opteon Demand (2 articles)