r/chinastocks
Final days to get in on the $189M TuSimple ($TSP) settlement before payouts start rolling out
Reminder to file late claims for the $189M TuSimple ($TSP) settlement before the final deadline, recalling its massive crash and fraud.
- Management overstated safety tech and rushed public road testing.
- Hid ongoing FBI, SEC, and CFIUS investigations regarding ties to a Chinese startup.
- Stock plummeted over 98% from IPO price following whistleblower revelations and crashes.
Hey guys, throwing out a crucial update for anyone who held TuSimple ($TSP) back during their massive self-driving truck meltdown.
The initial deadline passed, but they are currently in the final days of accepting late claims right before they officially lock the books and start cutting the checks. If you forgot to file or thought you missed out, this is your absolute last chance to get your piece of the massive $189 million settlement pool.
As a refresher, this was the lawsuit over management overstating their safety tech, rushing public road testing, and hiding the fact that they were under FBI, SEC, and CFIUS investigations for ties to a Chinese startup. The stock dropped over 98% from its IPO price when the whistleblower video and truck crash details came to light.
If you bought shares during the class period (April 15, 2021 – December 20, 2022), you are eligible. The estimated payout is around $0.62 per share, which is pretty substantial if you held a decent-sized bag.
It takes just a few minutes to get a late claim approved before they stop taking submissions entirely to distribute the funds.
Did anyone else here ride this one all the way down? Let me know if you've already filed.