Securities Investigation: TuSimple Holdings, Inc.
TUSIMPLE HOLDINGS, INC. Company News: Berger Montague Investigates Securities Fraud Allegations Against TuSimple Holdings, Inc. (NASDAQ: TSP)
PHILADELPHIA, August 25, 2022 – Berger Montague is investigating securities fraud allegations on behalf of investors who purchased the securities TuSimple Holdings, Inc. (“TuSimple” or the “Company”) (NASDAQ: TSP) from April 12, 2021 and August 1, 2022 (the “Class Period”).
If you purchased the securities of TuSimple during the Class Period, would like to discuss Berger Montague’s investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at [email protected] or (215) 875-3015, or Michael Dell’Angelo at [email protected] or (215) 875-3080 or visit: https://investigations.bergermontague.com/tusimple/
TuSimple, headquartered in San Diego, purports to develop autonomous technology specifically designed for semi-trucks in the United States and internationally. It is developing a line of purpose-built Level 4 (“L4”) autonomous semi-trucks for the North American market.
On August 1, 2022, the Wall Street Journal published an article entitled “Self-Driving Truck Accident Draws Attention to Safety at TuSimple,” which brought to light a number of previously undisclosed concerns that undermined Defendants’ representations and omissions concerning the Company’s safety. The article referenced an April 6, 2022 accident involving a truck fitted with TuSimple’s autonomous driving technology, and reported that, among other things, “[t]he accident… underscores concerns that the autonomous-trucking company is risking safety on public roads in a rush to deliver driverless trucks to market, according to independent analysts and more than a dozen of the company’s former employees.”
On this news, TuSimple’s shares fell $0.97 per share, or nearly 10%, from a closing price of $9.96 per share on July 29, 2022 to a closing price of $8.99 per share on August 1, 2022.
Whistleblowers: Anyone with non-public information regarding TuSimple is encouraged to confidentially assist Berger Montague’s investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.