NEW YORK--(BUSINESS WIRE)--#Securities--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Tuya Inc. (“Tuya” or the “Company”) (NYSE: TUYA) on behalf of Tuya stockholders. Our investigation concerns whether Tuya has violated the federal securities laws and/or engaged in other unlawful business practices.
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On March 18, 2021, Tuya conducted its initial public offering (“IPO”) of its American Depositary Shares (“ADSs” or “shares”), selling 45,076,479 ADSs at $21 per ADS.
On August 19, 2021, Tuya reported disappointing financial results for second quarter 2021. During the related conference call, the Company attributed the results to a “series of challenges” affecting its customers, “including Amazon’s strict execution of seller policy, rising raw material prices and shortage of semiconductor components.”
On this news, the Company’s share price fell $1.74, or 14%, to close at $10.41 per ADS on August 19, 2021. As of market close on October 27, 2021, Tuya ADSs were trading as low as $7.01, or 66% below the IPO price.
If you purchased or otherwise acquired Tuya shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
