NEW YORK CITY, NY / ACCESS Newswire / September 27, 2025 / Pomerantz LLP announces that a securities fraud class action lawsuit has been filed against Sina Corporation ("Sina" or the "Company") (formerly NASDAQ:SINA) and certain of its executive officers (collectively, "Defendants"). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Sina and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until November 18, 2025, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Sina securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
This action concerns the Defendants’ fraudulent scheme to depress the value of Sina ordinary shares to avoid paying a fair price to Sina’s shareholders in connection with a take-private acquisition by a buyer group controlled by Sina’s Chief Executive Officer (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 the Company’s investment in TuSimple Holdings, Inc. at the time of the Merger; and (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.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
View the original press release on ACCESS Newswire
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