DiDi Global $740 Million Securities Class Action Settlement, Investors Can Claim Up To $1.84 Per Share, Deadline April 6, 2026

DiDi Global Inc. reached a $740 million settlement resolving securities fraud allegations stemming from its June 2021 Initial Public Offering. Investors who purchased DiDi American Depositary Shares between June 30, 2021, and July 21, 2021, can file claims until April 6, 2026, with an estimated average recovery of $1.84 per affected share before attorney fees and administrative costs deductions.

What the DiDi Securities Fraud Lawsuit Involved

DiDi raised $4.4 billion in its June 30, 2021, IPO on the New York Stock Exchange, pricing shares at $14 and achieving a $68 billion market valuation. Two days later, China’s Cyberspace Administration (CAC) placed DiDi under cybersecurity review and suspended new user registrations.

The lawsuit claims DiDi failed to disclose that Chinese regulators had warned the company not to proceed with the IPO until it achieved compliance with cybersecurity and data privacy laws. According to court filings, CAC directed DiDi to undergo a cybersecurity review before the IPO, but the company moved forward anyway while allegedly telling regulators it would comply with the directive.

Following the IPO, CAC announced DiDi violated cybersecurity and data protection laws, implementing additional sanctions. DiDi’s share price plummeted from $14 to as low as $7.20 as regulatory restrictions materialized, causing substantial investor losses. The company eventually delisted from NYSE, locking in devastating losses for shareholders who bought during the three-week class period.

Timeline of the Securities Litigation

Investors filed multiple federal actions between July and September 2021 in U.S. District Court for the Southern District of New York. The court consolidated these cases under lead docket number 1:21-cv-05807-LAK-VF and appointed lead plaintiffs.

On May 5, 2022, plaintiffs filed a consolidated complaint asserting claims under Sections 11, 12, and 15 of the Securities Act of 1933 and Sections 10(b), 20A, and 20(a) of the Securities Exchange Act of 1934. Defendants filed five separate motions to dismiss, which the court denied on March 14, 2024, in a 52-page opinion finding plaintiffs adequately stated six causes of action.

Discovery proceeded intensively from May 2024 through August 2025. Plaintiffs’ counsel reviewed over 2.7 million pages of documents, took fourteen depositions in Hong Kong, and filed fifteen motions to compel. On July 7, 2025, Magistrate Judge Figueredo recommended granting class certification for Securities Act claims and scheme liability claims under Section 10(b).

After participating in mediation with former U.S. District Court Judge Layn R. Phillips, DiDi and plaintiffs reached an agreement in principle on August 12, 2025. On December 9, 2025, the parties executed the final settlement agreement. The court authorized notice to class members on January 12, 2026, and scheduled the final approval hearing for June 16, 2026.

Who Qualifies for Compensation

You’re eligible if you purchased DiDi ADSs between June 30, 2021, and July 21, 2021, inclusive. Excluded from the class are DiDi officers and directors, defendants, IPO underwriters (including Goldman Sachs, Morgan Stanley, JPMorgan, and Bank of America units), SoftBank, Uber, Alibaba, Tencent, Boyu Capital, their affiliates, and immediate family members.

Approximately 401.2 million DiDi ADSs purchased by class members during the class period were potentially affected by the alleged misconduct. The settlement covers all U.S. residents who purchased shares during this brief window, regardless of whether they sold at a loss or still hold the securities.

Settlement Amount and Expected Recovery

DiDi agreed to pay $740 million into a settlement fund. After deducting court-approved attorney fees (up to 25% or $185 million), litigation expenses (up to $5.25 million), administrative costs, and taxes, the remaining net settlement fund will be distributed to eligible claimants based on a court-approved plan of allocation.

If all eligible shares participate, the estimated average recovery is approximately $1.84 per affected ADS before deductions. With maximum fees and expenses deducted, the average would be approximately $1.37 per share. However, your actual recovery depends on when you purchased and sold shares, your specific losses under the plan of allocation, and how many other investors file claims.

Plaintiffs’ damages expert estimated maximum recoverable aggregate damages of $1.829 billion using the “out-of-pocket” measure of damages, with average damages of $4.56 per share. The $740 million settlement represents approximately 40% of the maximum estimated damages, reflecting litigation risks including DiDi’s defenses that price declines didn’t reveal corrective information about alleged securities violations. Similar securities class action settlements like celgene have achieved recovery rates between 2% and 60% of estimated maximum damages depending on case strength and defendant’s financial resources.

How to Calculate Your Recognized Loss

The plan of allocation uses a “decline in inflation” methodology measuring artificial inflation removed from share prices when corrective disclosures occurred. DiDi shares experienced price drops on July 6, 2021 (following July 5 CAC announcement), and July 22-23, 2021 (following July 22 regulatory disclosure).

Your recognized loss depends on purchase date, sale date, purchase price, and sale price. For example, shares purchased June 30-July 5, 2021, and sold July 23 or later have a recognized loss of up to $5.03 per share (the estimated artificial inflation). Shares purchased July 6-21 and sold July 23 or later have recognized loss up to $2.65 per share.

The plan also applies the Private Securities Litigation Reform Act’s 90-day lookback provision. If you sold shares between July 22 and October 20, 2021, your loss cannot exceed the difference between purchase price and the average closing price through your sale date. Shares held through October 20, 2021, use $8.46 (the 90-day average closing price) as the ending value.

Filing Your Claim Before the Deadline

Submit claims online at www.DiDiSettlement.com by 11:59 PM ET on April 6, 2026, or mail paper forms postmarked by April 6, 2026, to In re DiDi Global Inc. Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, Media, PA 19063.

You must provide transaction documentation including brokerage confirmation slips or monthly statements showing all DiDi ADS purchases between June 30-July 21, 2021, and all sales through October 20, 2021. Without proper documentation, your claim will be rejected. Understanding how securities fraud class actions work helps maximize recovery.

Contact the claims administrator at (855) 496-9320 or [email protected] with questions. Lead counsel Laurence Rosen can be reached at [email protected].

Last Updated: February 7, 2026

Disclaimer: This article provides general information about the DiDi Global securities class action settlement and is not legal advice. For specific guidance about your eligibility or claim calculation, consult a qualified attorney.

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About the Author

Sarah Klein, JD, is a licensed attorney and legal content strategist with over 12 years of experience across civil, criminal, family, and regulatory law. At All About Lawyer, she covers a wide range of legal topics — from high-profile lawsuits and courtroom stories to state traffic laws and everyday legal questions — all with a focus on accuracy, clarity, and public understanding.
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