DiDi Global Inc. announced on the evening of August 28 that it has agreed to pay $740 million to settle a class action lawsuit filed by investors. The company stated that no wrongdoing occurred and that the settlement was intended to avoid litigation costs and disruptions to business operations.

The lawsuit originated in July 2021, when certain investors filed a class action suit against DiDi Global Inc., alleging that the company may have released seriously misleading business information to investors. DiDi Global Inc. emphasized that the settlement is subject to numerous conditions, including court approval, and does not constitute an admission or determination that the claims raised in the litigation have any legal merit.

For internet companies, facing class action lawsuits is not uncommon. Prior to this case, Chinese enterprises including Alibaba, JD.com, Baidu, PDD Holdings, and New Oriental have all encountered similar situations.

PDD Holdings, which went public in July 2018, faced class action litigation within just five trading days after its IPO, with multiple law firms announcing investigations and class action suits on behalf of PDD Holdings investors to recover investment losses. In 2018, several law firms initiated class action lawsuits against JD.com for allegedly issuing false statements that caused investor losses.

Alibaba has faced multiple investor class action lawsuits. In 2015, Alibaba was accused of concealing information before its 2014 IPO, with settlements totaling $325 million paid in 2018 and 2019. Alibaba faced another class action lawsuit in 2020, announcing a $434 million settlement in 2024. Combined, Alibaba has paid $759 million in class action lawsuit settlements.