'Temu Is Functionally Malware': Arkansas AG Files Lawsuit Against Chinese Retailer, Calls It A 'Data Theft Business'
Portfolio Pulse from Hayden Buckfire
Arkansas Attorney General Tim Griffin has filed a lawsuit against Chinese retailer Temu, owned by PDD Holdings (NASDAQ:PDD), accusing it of being a 'data-theft business' and violating state laws. Temu denies the allegations, claiming they are based on misinformation. The lawsuit comes amid increasing geopolitical tensions between the U.S. and China.
July 05, 2024 | 2:59 pm
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Arkansas AG Tim Griffin has filed a lawsuit against Temu, owned by PDD Holdings, accusing it of being a 'data-theft business' and violating state laws. Temu denies the allegations, claiming they are based on misinformation.
The lawsuit against Temu could negatively impact PDD Holdings' stock price in the short term due to potential legal costs, reputational damage, and increased regulatory scrutiny. The denial of allegations by Temu may mitigate some of the negative impact, but uncertainty remains.
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