S’pore’s Ryde faces two legal cases as shareholder seeks buyout & investors allege fraud
“The proceedings remain at an early stage,” said Ryde Singapore-based ride-hailing firm Ryde, listed on the New York Stock Exchange (NYSE), is facing two separate legal cases: a shareholder petition and a class action lawsuit, the Business Times reported. On Jul 3, Octava Fund, a shareholder of Ryde Group, submitted a petition to the Grand […]
Ryde, a Singapore-based ride-hailing company listed on the New York Stock Exchange, is currently embroiled in two legal disputes. According to the Business Times, the first case involves a shareholder petition filed by Octava Fund on July 3, 2025, seeking to buy out Ryde's 6.9 million shares or wind up the company due to improper governance, breach of duty, and other concerns.
The second legal action is a class action lawsuit filed on September 10, 2025, in the US District Court for the Southern District of New York, accusing Ryde of involvement in a pump-and-dump scheme.
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Also reported by 3 other outlets
- S’pore ride-hailing platform Ryde faces legal trouble in the US and Cayman Islands straitstimes.com
- Singapore-based Ryde accused of pump-and-dump fraud in class action lawsuit businesstimes.com.sg
- Ryde hit by pump-and-dump class action, shareholder petition techinasia.com
