Pomerantz LLP is investigating claims on behalf of investors of Sea Limited ("Sea" or the "Company") (NYSE:SE). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Sea and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 28, 2024, Bloomberg published an article reporting that Sea is under investigation by Indonesian antitrust authorities "for potentially unfairly favoring its own delivery service over other alternatives." The Bloomberg article reported that "[o]nline shoppers in Indonesia can choose the company to deliver their purchases, and Sea's e-commerce arm Shopee set up an algorithm that prioritized its own service over other options, including local contenders, the antitrust watchdog known as KPPU said in a hearing Tuesday."
On this news, Sea's stock price fell $2.35 per share, or 3.26%, to close at $69.63 per share on May 28, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP