NEW YORK, Nov. 11, 2022 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that it has filed a class action lawsuit relating to securities in the United States District Court for the Southern District of New York on behalf of any person or entity that purchased the securities of TuSimple Holdings, Inc. TSP: (i) pursuant to and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with TuSimple’s initial public offering on April 15, 2021 (“IPO”); and/or (ii) between April 15, 2021 and October 31, 2022, both dates inclusive (the “Class Period”).

The Complaint alleges that throughout the Class Period and in connection with the IPO conducted through the Registration Statement, the Defendants made materially false or misleading statements and/or failed to disclose the following: (1) TuSimple was an undisclosed entity Involved in related party transactions with Hydron, a company founded by defendant Mo Chen; (2) TuSimple has shared confidential information and/or proprietary technology with Hydron without the approval of the Board of Directors or without notifying the regulators or TuSimple shareholders; (3) TuSimple has failed to disclose the board’s internal investigation into TuSimple’s affiliations with Hydron, which began in July 2022; (4) the foregoing behavior increased the likelihood of regulatory scrutiny and investigation of the Company; and (5) as a result, the Company’s public statements were, at all relevant times, materially false and misleading.

Investors who have purchased or otherwise acquired TuSimple stock should contact the company before January 9, 2023 Lead Plaintiff’s Application Deadline. A lead plaintiff is a representative party acting on behalf of other group members in conducting the litigation. If you would like to discuss your rights or interests related to this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. by Gainey McKenna & Egleston at (212) 983-1300 or by email at tjmckenna@gme-law.com or