Lawmaker demands FTC probe Temu parent company over alleged CCP ties [FOX Business Network]
PDD Holdings Inc. - American Depositary Shares (PDD)
Company Research
Source: FOX Business Network
A Republican lawmaker is urging the Federal Trade Commission to probe the China-based parent company of fast fashion retailer Temu over its alleged ties to the Chinese Communist Party. Rep. Brian Mast, R-Fla., on Tuesday sent a letter to the FTC calling out PDD Holdings Inc. and its subsidiaries, Pinduoduo and Temu, for "harmful business practices here in the United States." The letter urges the FTC to investigate after a pair of class action lawsuits were filed over concerns about the Temu app and data privacy. "Whether it's Tiktok or Temu, behind these friendly English words hide three nefarious letters — CCP," Mast told FOX Business in a statement. "We need to be clear, if you're a company operating within the U.S., you don't get to hide your links to the Chinese Communist Party. That's why I'm asking the FTC to probe Temu's parent company for their links to the CCP and their questionable business practices." Ticker Security Last Change Change % PDD PDD HOLDINGS
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PDD
News
- PDD Holdings Files Annual Report on Form 20-F for Fiscal Year 2023GlobeNewswire
- Alibaba: Let's Clear Up Some Misconceptions [Seeking Alpha]Seeking Alpha
- China’s Pinduoduo Has Reshaped Discount Shopping [The New York Times]The New York Times
- Alibaba: Cheap But Risky, My Strategy For Reducing Downside Risk [Seeking Alpha]Seeking Alpha
- Shanghai Hi-Dolphin's Cofe+ Robot Café Completes Series A Funding Round with Leading Investors [Yahoo! Finance]Yahoo! Finance
PDD
Earnings
- 3/20/24 - Beat
PDD
Sec Filings
- 4/25/24 - Form 20-F
- 3/27/24 - Form 144
- 3/26/24 - Form 144
- PDD's page on the SEC website