Ryde Group Ltd Faces Shareholder Lawsuit Over Alleged Stock Manipulation

Ryde Group Ltd, a company aiming to be a "Super mobility app," is facing a class action lawsuit alleging that investors lost money following a significant decline in the company's stock. Law firm Robbins LLP announced on September 29, 2026, that the lawsuit was filed on behalf of individuals and entities who purchased or acquired Ryde Group Ltd (NYSE: RYDE) securities between March 6, 2024, and September 11, 2024. These investors may be eligible to participate in the legal proceedings.

The complaint alleges that Ryde experienced an artificial surge in its stock price, orchestrated by a fraudulent stock promotion scheme, which was followed by a sudden collapse. The accusations state that Ryde and its representatives failed to disclose to investors that the company's stock was subject to a "pump-and-dump" scheme. This scheme allegedly utilized social media and misinformation to artificially inflate the stock's value.

Investigations and reports indicate that Ryde Group Ltd's stock price rose from its initial public offering price of $4.00 to a high of $22.49 without any fundamental changes to the company's business. On September 11, 2024, the stock plummeted approximately 75%, and has continued to decline since. The lawsuit further alleges that insiders and/or affiliates may have used offshore or nominee accounts to facilitate a coordinated dumping of shares during a price inflation campaign.

Robbins LLP is urging investors who incurred losses during the specified period to contact them before the lead plaintiff deadline of November 9, 2026. The law firm states that there is no cost for investors to participate in the lawsuit or to seek appointment as lead plaintiff, as they work on a contingency fee basis. Robbins LLP has a history of representing shareholders in securities litigation.