The Law Offices of Frank R. Cruz announces an investigation of PDD Holdings Inc. (“PDD” or the “Company”) (NASDAQ: PDD) on behalf of investors concerning the Company’s possible violations of federal securities laws.

What Is The Investigation About?
On January 19, 2026, Bloomberg reported that China had broadened its probe into PDD, dispatching a special investigation team of over 100 regulators from various agencies, including the State Administration for Market Regulation (“SAMR”), alleging misconduct ranging from fraudulent deliveries to taxation issues. The investigation was partially triggered by physical violence that had broken out between PDD employees and SAMR inspectors in the previous month.

On this news, PDD’s stock price fell during intraday trading on January 20, 2026, thereby injuring investors.