Chinese ride-hailing company Didi Global, its current and former directors, and the underwriters to its initial public offering on the Nasdaq in 2021 will have to face a class action lawsuit in the U.S. District Court for the Southern District of New York.
Plaintiffs claim that they were defrauded by the defendants, who they allege concealed and disobeyed directives from the Cyberspace Administration of China to postpone its 2021 listing until cybersecurity and privacy concerns were resolved. Didi had tried to have the case dismissed.
