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Class action filed over Ryde Group's 75% stock crash after alleged undisclosed social media pump scheme.

Market News
27 Oct 2026, 17:23 WIB
GlobeNewsWire
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Bearish
Class action filed over Ryde Group's 75% stock crash after alleged undisclosed social media pump scheme.

A securities class action lawsuit has been filed against Ryde Group Ltd for investors who bought shares between its $4 IPO in March 2024 and the stock's sharp 75% collapse in September 2024. The suit alleges the company failed to disclose a social media-driven pump-and-dump scheme that inflated the stock price to $22.49 before it crashed to $5.50. Investors have until November 9, 2026, to apply for lead plaintiff status or participate as class members. The case highlights risks of market manipulation in low-float foreign micro-cap stocks and aims to recover losses for affected shareholders.

Ryde Group Ltd faces a securities class action lawsuit related to its volatile stock price following its IPO. For readers following the Financials sector, here is Pluang's market snapshot as of Oct 27, 2026 20:41 WIB: out of 142 priced US Financials stocks, 78 rose and 62 fell today. Notable movers include PSEC at USD 1.55 with a 4.03% gain and 100% buy order activity, ITUB at USD 8.00 up 3.90% with 3 days typical hold time, and PURR at USD 9.40 rising 3.64% with 6 days typical hold time.

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