Hagens Berman, National Trial Attorneys, encourages investors in the TuSimple Holdings (TSP) IPO to contact the firm’s attorneys, which is investigating possible securities law violations

SAN FRANCISCO, August 3, 2022 /PRNewswire/ — Hagens Berman is urging investors in TuSimple Holdings Inc. (NASDAQ: TSP), which suffered significant losses after the company completed its IPO April 2021 to submit your losses now.

Visit: www.hbsslaw.com/investor-fraud/TSP
Contact a lawyer now: [email protected]
844-916-0895

TuSimple Holdings Inc. (NASDAQ:TSP) Investigation:

The investigation focuses on the statements made by TuSimple that allowed him to go public April 2021 by issuing 33.7 million shares $40 per share, increase $1.1 billion in gross proceeds.

In particular, TuSimple has repeatedly touted its Autonomous Freight Network, including its autonomous L4 semitrailer trucks, and claims its AFN is the most comprehensive solution to address the freight industry’s long-term security challenges.

These claims came into question on August 1, 2022when the Wall Street Journal reported it April 6, 2022an autonomously driving truck with TuSimple technology suddenly turned left and crossed the I-10 freeway Tucson, Ariz and crashed into a concrete barricade.

The WSJ further reported that: (1) According to independent analysts and over a dozen former TuSimple employees, “[t]The accident … underscores these concerns [TuSimple] is risking safety on public roads to rush to market driverless trucks;” (2) while “the company has repeatedly blamed human error for the accident,” the company said June 2022 Regulatory disclosures along with internal company documents show what autonomous driving experts are calling “fundamental issues” with TuSimple’s technology; and (3) researchers at Carnegie Mellon University who have spent decades studying autonomous driving systems say attributing the entire accident to human error is misleading.

This news sent TuSimple shares down sharply August 1, 2022closes around $8.99or more than 77% lower than the IPO price.

“We’re focused on investors’ losses and whether TuSimple is prioritizing potential gains over safety,” he said Reed CatherineHagens Berman’s partner leading the investigation.

If you have invested in TuSimple Holdings and are experiencing significant losses or have knowledge that could assist the firm’s investigations, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Individuals with nonpublic information regarding TuSimple Holdings should consider their options to assist in the investigation or use the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards totaling up to 30 percent of each successful recovery by the SEC. Call for more information Reed Catherine at 844-916-0895 or email [email protected].

Hagens Berman is a global plaintiffs’ rights litigation firm focused on corporate accountability through class actions. The Firm has a robust securities disputes practice, representing investors as well as whistleblowers, employees, consumers and others in cases seeking real results for those harmed by corporate negligence and fraud. To learn more about the firm and its accomplishments, visit hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

Contact:
Reed Catherine844-916-0895

SOURCE Hagens Berman Sobol Shapiro LLP