BENSALEM, Pa.–(BUSINESS WIRE)–$TCEHY #CLASSACTION–Law Offices of Howard G. Smith announces an investigation on behalf of Tencent Holdings Limited (“Tencent” or the “Company”) (OTC: TCEHY) investors concerning the Company’s possible violations of federal securities laws.
On March 12, 2021, Bloomberg published an article entitled “Tencent Faces Broad China Clampdown on Fintech, Deals,” reporting that “China’s top financial regulators see Tencent as the next target for increased supervision after the clamp down” on Ant Group Co. As a result, the Company would “probably be required to establish a financial holding company to include its banking, insurance, and payments services.”
On this news, the Company’s American Depositary Receipts (“ADRs”) price fell as much as $7, or nearly 8%, during intraday trading on March 12, 2021.
If you purchased Tencent ADRs, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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