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Didi sued by US shareholders

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Chinese ride-hailing company Didi Chuxing was sued by U.S. shareholders.

Two shareholder lawsuits allege the company failed to disclose ongoing talks with Chinese regulators about its compliance with cybersecurity laws and regulations. China ordered Didi to be removed from app stores earlier this month.

The U.S. initial public offering for Didi raised $4.4 billion, the second-largest amount for a Chinese firm on record.

Read more from Bloomberg.

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