WELCOME TO THE FTA SECURITIES SETTLEMENT WEBSITE

If you purchased or otherwise acquired American Depositary Shares (“ADSs”) of Full Truck Alliance Co. Ltd. (“FTA” or the “Company”) from June 22, 2021 (the date of FTA’s initial public offering (“IPO”)) through July 2, 2021, inclusive (the “Settlement Class Period”), or purchased or otherwise acquired FTA ADSs pursuant or traceable to FTA's IPO or IPO registration statements, you could get a payment from a proposed class action settlement (the “Settlement”).

The Settlement, subject to judicial approval, will resolve two putative securities class actions (the “Actions”), namely (i) In re Full Truck Alliance Co. Ltd. Securities Litigation, Index No. 654232/2021 (the “State Action”), pending in the Supreme Court of the State of New York, County of New York (the “Court” or “State Court”) and (ii) Pratyush Kohli v. Full Truck Alliance Co. Ltd., et al., No. 1:21-cv-03903-LDH-MMH (the “Federal Action”), pending in the U.S. District Court for the Eastern District of New York (the “Federal Court”). The Actions concern whether Defendants violated the federal securities laws by materially misrepresenting and/or omitting material facts in the Offering Materials issued in connection with FTA’s IPO and, in the case of the Federal Action, certain other of the Company’s statements.

WHAT ARE THE ACTIONS ABOUT?

The proposed Settlement will resolve all claims asserted in the State Action and the Federal Action, which were both brought on behalf of a substantively identical class of FTA investors. The State Action alleges that Defendants violated certain federal securities laws by making misrepresentations and/or omissions of material fact in the Offering Materials for FTA’s IPO. Plaintiffs in the State Action allege that just a few weeks before its IPO, FTA had been ordered by Chinese government regulators to modify its business practices to comply with existing and new regulations, and that FTA had failed to comply with these orders. This subjected FTA to a material risk of significant government penalties once its non-compliance was discovered. The Federal Action alleges much of the same misconduct. Both Actions also allege that Defendants’ misstatements or omissions artificially inflated the price of FTA ADSs during the Settlement Class Period. Defendants deny all allegations of wrongdoing and liability asserted in the Actions.

WHAT HAS HAPPENED SO FAR IN THE ACTIONS

The State Action is a consolidated class action that resulted from the Court’s consolidation of two similar class actions filed on July 7, 2021 and July 30, 2021. The State Action is brought on behalf of all those who purchased FTA ADSs pursuant or traceable to the Offering Materials (as defined in the Stipulation) for the IPO and were allegedly damaged thereby, and which asserts claims against the Defendants for alleged violations of §§11 and 15 of the Securities Act of 1933 (the “1933 Act”). The State Plaintiffs filed their Consolidated Amended Complaint against the Defendants on November 29, 2021 in the State Court. On January 31, 2022, the Defendants (who had been served to that point) filed their motions to dismiss the State Action together with accompanying briefs, affidavits and other papers in support thereof with the Defendants who were subsequently served joining in the motions thereafter. Following full briefing, oral argument was held on January 19, 2023. The Court’s decision on Defendants’ motions to dismiss is pending.

Meanwhile, on July 12, 2021, the Federal Plaintiffs filed their Complaint in the Federal Action, asserting claims under both §§11 and 15 of the 1933 Act and §§10(b) and 20(a) of the Securities Exchange Act of 1934 (“1934 Act”) on behalf of a substantively identical putative class as alleged in the State Action. The Federal Plaintiffs filed an Amended Complaint on September 13, 2022, and a Second Amended Complaint on November 1, 2022; and the Defendants moved to dismiss the Second Amended Complaint on February 2, 2023. The Federal Court’s decision on the motions to dismiss is pending.

While continuing to litigate the Actions, in the late summer of 2023, the parties retained an independent and experienced mediator, David M. Murphy, Esq. of Phillips ADR, to explore the possibility of a settlement. The parties participated in a full-day, in-person mediation session on September 12, 2023, which resulted in an agreement to settle all claims at issue for U.S. $10,250,000 in cash.

ADDITIONAL INFORMATION

Although the information in this website is intended to assist you, it does not replace the information contained in the Notice and Stipulation, both of which can be found and downloaded by clicking on the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully. You may also wish to read the answers to Frequently Asked Questions provided on this website.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

IMPORTANT DATES AND DEADLINES