NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of sellers of ordinary shares, including those that sold into the Merger of Sina Corporation (NASDAQ: SINA) between October 13, 2020 and March 22, 2021. Sina describes itself as a “media technology company that provides region-specific news, information, entertainment, and financial content.”
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that Sina Corporation (NASDAQ: SINA) Misled Investors Regarding its Business Operations.
According to the lawsuit, defendants’ created a fraudulent scheme to depress the value of Sina ordinary shares to avoid paying a fair price to Sina’s shareholders in connection with the Merger. Defendants executed this scheme by misrepresenting and/or omitting material information within and from Sina’s proxy materials in connection with the Merger that were necessary for shareholders to make an informed decision concerning whether to vote in favor of the Merger. Specifically, defendants failed to disclose that: (1) defendants concealed the true value of Sina’s investment in TuSimple at the time of the Merger; (2) in turn, the offer of $43.30 per ordinary share as consideration for the Merger substantially shortchanged the true value of Sina ordinary shares; and (3) as a result, defendants’ statements about Sina’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Sina Corporation. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by November 18, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders.
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Contacts
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com
