TSP:NASDAQ Class Action Lawsuit (TuSimple) was filed on November 10, 2022 on behalf of the shareholders.
On October 31, 2022, TuSimple filed a Form 8red K with the SEC. Attached to the Form 8K was a press release announcing that the Board of Directors of TuSimple (the “Board”) had terminated defendant Xiaodi Hou from his po sition “as the Chief Executive Officer, President and Chief Technology Officer of the Company and removed Dr. Hou from his position as Chairman of the Board, in each case, effective as of October 30, 2022.”
On this news, TuSimple share prices fell $2.88, o 2022, at $3.43 per share.
As of the date of the filing of this Complaint, TuSimple shares traded as low as $2.61 per share, representing a decline of over 93% from the $40 IPO offering price.