TUSIMPLE 72 HOUR DEADLINE ALERT: Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors With Losses in Excess of $100,000 of Deadline in Class Action Lawsuit Against TuSimple Holdings Inc. - TSP

By: Kahn Swick & Foti, LLC via Business Wire

October 28, 2022 at 22:50 PM EDT

Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 31, 2022 to file lead plaintiff applications in a securities class action lawsuit against TuSimple Holdings Inc. (NasdaqGS: TSP), if they purchased or otherwise acquired the Company’s securities between April 15, 2021 and August 1, 2022, inclusive (the “Class Period”) and/or purchased or otherwise acquired the Company’s shares pursuant to the Company’s April 2021 initial public offering (the “IPO”). This action is pending in the United States District Court for the Southern District of California.

What You May Do

If you purchased or acquired securities or shares of TuSimple as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-tsp/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by October 31, 2022.

About the Lawsuit

TuSimple and certain of its executives are charged with failing to disclose material information during the Class Period and/or in the Registration Statement and Prospectus issued in conjunction with the initial public offering, violating federal securities laws.

The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company had significantly overstated its commitment to safety and concealed fundamental problems with its technology; (ii) the Company was rushing the testing of its autonomous driving technology in order to deliver driverless trucks to the market ahead of its more safety-conscious competitors; (iii) the Company’s corporate culture suppressed or ignored safety concerns in favor of unrealistically ambitious testing and delivery schedules; (iv) the aforementioned conduct made accidents involving the Company’s autonomous driving technology more likely; (v) the aforementioned conduct was likely to lead to enhanced regulatory scrutiny and investigatory action toward the Company; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

The case is Dicker v. TuSimple Holdings, Inc., No. 22-cv-01300.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.

To learn more about KSF, you may visit www.ksfcounsel.com.