Tuya Inc. (TUYA)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Tuya, Inc. (“Tuya” or the “Company”) (NYSE: TUYA). The investigation concerns whether Tuya and certain of its officers and/or directors have violated federal securities laws.
On or around March 18, 2021, Tuya conducted its initial public offering (“IPO”), selling 43.59 million American depositary shares (“ADSs”) priced at $21.00 per share. Then, on August 19, 2021, Tuya reported its financial results for the second quarter of 2021. Among other items, Tuya provided sales guidance of between $83 million and $86 million, falling well short of consensus expectations of $110 million. On this news, Tuya’s ADS price fell $1.74 per ADS, or 14.32%, to close at $10.41 per ADS on August 19, 2021.
If you are aware of any facts relating to this investigation, or purchased Tuya shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.