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INVESTOR ALERT: Edelson Lechtzin LLP is Investigating Securities Fraud Claims on Behalf of Tuya, Inc. (NYSE: Tuya) Shareholders

NEWTOWN, PA, August 16, 2022 — The law firm of Edelson Lechtzin LLP is investigating securities fraud claims on behalf of all purchasers of Tuya Inc (“Tuya” or the “Company”) (NYSE: TUYA) pursuant and/or traceable to the registration statement and related prospectus issued in Tuya American Depositary Shares (“ADSs”) in or traceable to Tuya’s March 2021 initial public offering (the “IPO).  This lawsuit is seeking to pursue remedies under the Securities Act of 1933.

Investors who purchased Tuya Inc. common stock during the Class Period may move the U.S. District Court for the Southern District of New York to appoint them as lead plaintiff, no later than October 11, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Investors who wish to discuss the lead plaintiff selection process should contact Edelson Lechtzin LLP, toll free at 844-696-7492, or by e-mail at [email protected]. A copy of the class action complaint can be viewed here.

Background on the Tuya Inc. Securities Class Action

Tuya is a China based technology company that developed and offers a purpose-built “Internet of Things” (“IoTs”) cloud platform that delivers offerings that include Platform-as-a-Service (“PaaS”) and Software-as-a-Service (“SaaS”) to business and developers. Tuya’s products and services enable so-called “smart devices,” e.g., household items and appliances connected to the internet, to communicate and interact with end uses and online information and services.

The Complaint alleges that, throughout the Class Period, the IPO Registration Statement was negligently prepared and included false and/or misleading statements of material fact because it failed to disclose that: (i) a material portion of Tuya’s China-based customers were engaged in widespread illicit activities such as systematic manipulation of reviews and product offerings in violation of ’s terms of use; (ii) prior to the IPO, a consumer investigation and data breach had exposed an illicit fake review scheme being perpetrated by Tuya’s clients, among others, which included, in pertinent part, the exposure of 13 million records of organized fake review scams linked to over 200,000 Amazon account profiles; (iii) there was a substantial risk that a material portion of Tuya’s significant customers would be barred from using Amazon’s platform as a result of such misconduct, which would negatively impact Tuya’s business, revenue, earnings, and prospects. As a result of the foregoing, Tuya’s representations in the IPO Registration Statement concerning historical, financial, and operational metrics and purported market opportunities and expected growth did not accurately reflect the actual business, operations, financial results, and trajectory of the Company at the time of the IPO. By August 2022, Tuya ADSs had dropped below $2 per ADS, 90% below the IPO price.

About Edelson Lechtzin LLP

Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices.

For more information, please contact:

Marc H. Edelson, Esq.

Eric Lechtzin, Esq.


411 S. State Street, Suite N-300

Newtown, PA 18940

Phone: 844-696-7492

Email: [email protected]



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