This lawsuit is for anyone who acquired securities in Tuya, Inc. (NYSE: TUYA) from March 15, 2021 through August 9, 2022.
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, in the Prospectus to the Company's IPO, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to state, in the Prospectus to the Company's IPO, that the Company was creating false positive reviews of its customers that sold products on Amazon, which jeopardized the customer's relationship with Amazon, which, in turn, jeopardized the Company's sales to those customers.
On August 19, 2021, Tuya reported poor earnings and stated, on the associated earnings call, that “our customers face a series of challenges, including Amazon's strict execution of seller policy, rising raw material prices and shortage of semiconductor components.”.As a result, the stock price dropped precipitously and currently trades at a lower price than it did at the time of the Company's IPO.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Tuya, Inc. (NYSE: TUYA) from March 15, 2022 through August 9, 2022 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Join the Class Action
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Last Name: *
If Representing an Institution, Name of Institution:
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I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.