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NEW YORK, Oct. 25, 2022 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP, a nationally recognized investor rights law firm, is reminding investors of the deadline for filing a motion by lead plaintiff in a securities class action lawsuit filed on behalf of investors who own the common stock of purchased or otherwise acquired TuSimple Holdings Inc. (“TuSimple” or the “Company”) TSP 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 purchased or otherwise acquired TuSimple Securities between April 15, 2021 and August 1, 2022, both dates inclusive (the “Collection Period”). The lawsuit was filed in the United States District Court for the Southern District of California alleging violations of the Securities Act of 1933 and the Securities Exchange Act of 1934.

TuSimple develops autonomous technology specifically designed for semi-trucks in the United States and internationally. It is developing a line of purpose-built Level 4 (“L4”) autonomous semi-trucks for the North American market. The Company operates its Autonomous Freight Network (“AFN”) autonomous L4 semi-trucks equipped with its autonomous driving technology. According to TuSimple, AFN is an ecosystem consisting of L4 autonomous trucks, high-resolution digitally mapped routes, terminals, and TuSimple Connect, a cloud-based system for monitoring autonomous operations.

On April 15, 2021, TuSimple completed its IPO and sold 33.8 million Class A common shares at $40 per share for gross proceeds of $1.031 billion.

Plaintiff alleges that Defendants’ statements in the Registration Statement were materially false and misleading when made…