Ryde Group Confronts Fraud Lawsuits Following Sudden Stock Collapse

Ryde Group Confronts Fraud Lawsuits Following Sudden Stock Collapse

2026-09-19 companies

Singapore, Saturday, 19 September 2026.
Singapore mobility platform Ryde Group released its fiscal year 2025 report in September 2026 amid mounting litigation. The firm faces a Cayman Islands shareholder petition and a U.S. class-action lawsuit alleging a fraud scheme that artificially boosted stock prices to $22.49 before a 75% crash.

Annual Report Filing and Corporate Structure

Ryde Group Ltd (NYSE American: RYDE) officially announced the availability of its Form 20-F annual report for the fiscal year ending December 31, 2025, on September 18, 2026 [1]. Although the report was filed with the U.S. Securities and Exchange Commission (SEC) on April 24, 2026, the company issued a public notification regarding its availability via the SEC website and the company’s investor relations portal in mid-September 2026 [6]. Shareholders requesting physical copies of the audited consolidated financial statements may contact the Investor Relations Department directly, though no specific deadline for these requests has been disclosed [1]. The Singapore-headquartered firm, founded in 2014, continues to operate its on-demand carpooling, private hire, taxi, and delivery services under a 0% commission model for private-hire and taxi partners [6].

Concurrent with the annual report disclosure, Ryde Group issued a voluntary update on September 18, 2026, regarding two significant legal proceedings affecting the company [2]. A shareholder petition filed in the Grand Court of the Cayman Islands seeks an order for the company to purchase the shareholder’s remaining shares at fair value or, alternatively, to wind up the company [2]. Company representatives assert that these proceedings are not currently considered material to the company, though they intend to reassess this position if circumstances change [2]. No findings or appointments of liquidators have been made, and the company states that current operations and the ability to conduct business remain unaffected [2].

Securities Class Action Litigation

In the United States, a putative securities class action was filed in the United States District Court for the Southern District of New York covering purchasers of Ryde securities between March 6, 2024, and September 11, 2024 [2]. Multiple law firms, including Bronstein, Gewirtz & Grossman, LLC, have filed lawsuits alleging violations of federal securities laws concerning misleading statements during this period [5]. The complaint alleges defendants misled investors by failing to disclose a fraudulent stock promotion scheme involving social media misinformation and impersonated financial professionals [5]. Ryde Group intends to retain litigation counsel to defend against the US class action, which has a lead plaintiff deadline of November 9, 2026 [2].

Allegations of Market Manipulation

The class action lawsuit alleges that Ryde Group orchestrated a scheme involving offshore or nominee accounts to coordinate a dumping of shares during a stock price inflation campaign [8]. According to filings, RYDE stock surged from an IPO price of $4.00 to an all-time high of $22.49 without fundamental justification, followed by a crash on September 11, 2024 [4]. The share price dropped approximately -75.545 to $5.50 on the day of the crash, and has since declined to approximately $0.50 [4]. Robbins LLP and other firms are investigating allegations that the run-up was orchestrated by a fraudulent stock promotion scheme [4].

Investor Deadlines and Next Steps

Investors who suffered losses have until November 9, 2026, to request that the Court appoint them as lead plaintiff in the case [5]. Serving as a lead plaintiff is not required to share in any potential recovery, but the deadline remains active for those wishing to lead the representation [8]. Additionally, Ryde Group Ltd has scheduled an extraordinary general meeting for September 29, 2026, which remains a pending event as of September 19, 2026 [2]. The company maintains a policy of issuing forward-looking statements regarding future financial performance, though it explicitly states it undertakes no obligation to publicly update or revise these projections [6].

Sources


Corporate Litigation Ryde Group