Singapore-based Ryde accused of pump-and-dump fraud in class action lawsuit
Separately, shareholder Octava Fund wants NY-listed ride-hailing firm to buy out its shares
Singapore-based ride-hailing firm Ryde is currently embroiled in two legal battles. The first is a shareholder petition filed by Octava Fund, seeking to buy out Octava's 6.9 million shares or wind down the company due to alleged improper governance and breach of duty. The second is a class action lawsuit filed in the Southern District of New York, accusing Ryde of operating a pump-and-dump scheme.
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