Portnoy Law Firm Files Class Action for Sina Corporation Investors
Los Angeles, Thursday, 9 October 2025.
Portnoy Law Firm initiates a class action against Sina Corporation, alleging securities violations and misleading financial disclosures. Investors have until November 18, 2025, to join the case.
Overview of the Class Action
The Portnoy Law Firm has filed a significant class action lawsuit against Sina Corporation Holdings, Inc. (NASDAQ: SINA) on October 9, 2025. This lawsuit is initiated on behalf of investors who purchased securities between October 13, 2020, and March 22, 2021, a period referred to as the ‘Class Period.’ The allegations center on securities violations and misleading financial disclosures, which have prompted investors to seek legal remedies due to potential financial losses incurred [1].
Allegations Against Sina Corporation
The lawsuit claims that Sina Corporation, along with certain officers, engaged in a fraudulent scheme to artificially depress the value of Sina’s shares. This was allegedly done to avoid paying a fair price to shareholders during a take-private acquisition by a buyer group controlled by Sina’s CEO. The complaint highlights that critical information about Sina’s investment in TuSimple Holdings, Inc. was concealed, leading to a significant undervaluation of the company’s shares. The offer of $43.30 per ordinary share during the merger is claimed to be below the true market value, disadvantaging shareholders [1][2][3].
Investor Actions and Legal Deadlines
Investors who sold shares during the Class Period have until November 18, 2025, to file a lead plaintiff motion. This deadline is crucial for those wishing to be part of the class action or serve as lead plaintiffs. Legal firms such as the Rosen Law Firm and Berger Montague PC are actively encouraging affected investors to secure legal counsel to explore potential compensation without upfront legal fees through contingency arrangements [2][3][4].
Implications for Corporate Governance
This case underscores the heightened scrutiny on corporate governance within the tech sector, particularly concerning financial transparency and shareholder rights. The legal actions against Sina Corporation reflect a broader trend of increased vigilance by investors and legal entities to hold corporations accountable for any misleading disclosures or unethical practices. As the lawsuit progresses, it will be closely watched by stakeholders and could have significant implications for Sina Corporation’s future operations and investor relations [1][2].