Passenger Ground & Sea Transportation
DiDi Global's $740m IPO settlement is likely to be ready by next month, according to plaintiffs' attorney
A Manhattan federal judge is expected to approve the $740 million settlement DiDi Global reached with a lawsuit alleging it defrauded its investors in connection with their initial public offering in mid-October. The class action lawsuit accused DiDi, of hiding and disobeying a Chinese Government order to delay its June 2021 IPO. This raised more than $4 billion and valued DiDi around $67.5 billion. In July 2021, shares of DiDi fell as China's Cyberspace Administration of China banned the company from accepting new customers. They also ordered the removal of DiDi Travel from app stores for smartphones. In July, the...