DiDi Global $740M Class Action Settlement, Status, Eligibility & Payout

The DiDi Global Inc. class action settlement provides up to $740 million to investors who purchased DiDi American Depositary Shares (ADSs) during one of the shortest class periods in a major securities settlement: June 30, 2021, through July 21, 2021 — just 22 days. Eligible investors must file a claim by April 6, 2026, at www.DiDiSettlement.com. The settlement is proposed, not yet final. A final approval hearing is set for June 16, 2026.

KEY DATES

Quick Facts

• Case name: In re DiDi Global Inc. Securities Litigation
• Court: U.S. District Court, Southern District of New York (Judge Lewis A. Kaplan)
• Lawsuit type: Securities class action (not a consumer or product lawsuit)
• Defendants: DiDi Global Inc., 9 individual officers and directors, and 10 IPO underwriter banks including Goldman Sachs, J.P. Morgan, Morgan Stanley, Barclays, BofA, Citigroup, HSBC, Mizuho, UBS, and China Renaissance
• Settlement amount: $740,000,000 (proposed, pending court approval)
• Status: Proposed — final approval hearing June 16, 2026
• Who may be eligible: Individuals and entities that purchased DiDi ADSs between June 30, 2021, and July 21, 2021 (inclusive)
• Claim deadline: April 6, 2026
• Estimated average recovery: ~$1.84 per affected ADS (before attorney fees and costs)
• Settlement administrator: Strategic Claims Services
• Lead counsel: The Rosen Law Firm, P.A.

DiDi Global agreed to pay $740 million to settle a securities class action lawsuit alleging it made materially false and misleading statements and omissions in the registration statement for its June 2021 initial public offering. The lawsuit claims DiDi allegedly failed to tell investors that Chinese regulators had warned the company before its IPO and that a cybersecurity investigation was imminent. 

With a 22-day class period, the DiDi eligibility pool is more concentrated than typical large securities cases. Investors who bought DiDi ADSs during that narrow window and have not yet filed a claim must do so by April 6, 2026, or they will not receive any payment.

What Is the Lawsuit About?

Plaintiffs alleged that DiDi misled investors during its 2021 initial public offering by failing to disclose that Chinese regulators had raised serious concerns about the company’s data security practices. DiDi raised $4.4 billion through its June 30, 2021 IPO on the New York Stock Exchange — one of the largest Chinese company IPOs ever conducted in the United States.

Shortly after the IPO, Chinese authorities launched a cybersecurity review of DiDi, removing its apps from domestic platforms and halting new user signups. The company’s share price fell sharply following those announcements on July 22 and 23, 2021. Investors who bought at the IPO price or in the days after saw significant losses.

The lawsuit alleged DiDi failed to disclose warnings from the Chinese government, misrepresented its compliance with cybersecurity and data privacy laws, and deceived the underwriters to close the IPO. DiDi has stated it does not admit any wrongdoing and agreed to settle to avoid the cost and disruption of continued litigation.

Why Were the IPO Banks Named as Defendants?

The lawsuit named Goldman Sachs (Asia) LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, Barclays Capital Inc., BofA Securities, Inc., China Renaissance Securities (US) Inc., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., and UBS Securities LLC as Underwriter Defendants.

Under the Securities Act of 1933, investment banks that underwrite an IPO can be held liable for material omissions or misstatements in the registration statement they help prepare and certify. The plaintiffs argued these underwriter banks had an obligation to conduct due diligence on DiDi’s disclosures before helping bring the company public. All defendants deny any wrongdoing or liability.

Is This a Class Action?

Yes. The lawsuit is a securities class action pending in the United States District Court for the Southern District of New York, before Judge Lewis A. Kaplan. A class action allows a large group of investors with similar claims to be represented together, rather than each filing their own separate lawsuit.

The proposed Settlement, if approved by the Court, will settle claims of the Class, as defined in the Notice. The class includes all persons and entities that purchased DiDi ADSs during the 22-day class period. Both individual retail investors and institutions (pension funds, hedge funds, asset managers) may be class members.

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Legal Claims

The lawsuit brought claims under two federal securities laws:

Securities Exchange Act of 1934, Section 10(b): This is the primary anti-fraud provision of federal securities law. It prohibits companies and individuals from making false or misleading statements of material fact in connection with the purchase or sale of a security. The plaintiffs argued DiDi’s executives made materially false statements about the company’s regulatory standing with Chinese authorities.

Securities Act of 1933, Sections 11 and 12(a)(2): These provisions impose strict liability on companies and underwriters for false or misleading statements in a registration statement used for a public offering. Unlike Section 10(b) claims, investors do not need to prove the company intended to mislead — only that the registration statement contained material inaccuracies. This is why the IPO underwriter banks were also named.

Defendants do not agree with Plaintiffs’ allegations that they violated the federal securities laws in any respect or that any damages were suffered by any members of the Class as a result of their alleged conduct.

Settlement Status

DiDi agreed to pay $740 million to settle the case, and the defendants will be released from all liability. DiDi confirmed a $740 million provision in the second quarter of 2025.

The settlement is currently proposed — it has not yet received final court approval. A hearing will be held on June 16, 2026, before Judge Lewis A. Kaplan at the United States District Court for the Southern District of New York to determine whether the proposed settlement should be approved as fair, reasonable, and adequate.

The $740 million DiDi Global settlement is among the settlements on tap to receive possible court approval in 2026 and would rank among the 25 largest U.S. securities class action settlements of all time. Filing your claim before April 6, 2026, is necessary regardless of the June approval hearing — late claims will not be accepted.

Settlement Fund Breakdown

The Net Settlement Fund — the Settlement Amount plus interest, less Taxes, Notice and Administration Costs, Litigation Expenses awarded by the Court, and attorneys’ fees — will be distributed in accordance with a plan of allocation approved by the Court.

Here is the expected fund structure based on maximum requested amounts:

Plaintiffs’ damages expert estimates that approximately 401.2 million DiDi ADSs purchased by Class Members during the Class Period may have been affected. If all eligible Class Members elect to participate, the estimated average recovery would be approximately $1.84 per affected ADS, before the deduction of any Court-approved fees, expenses and costs.

Who Is Eligible?

You may be eligible if you meet all of the following:

1. You purchased DiDi ADSs during the class period. The class period is June 30, 2021, through July 21, 2021, inclusive. If you purchased before June 30, 2021 (there was no DiDi stock before the IPO) or after July 21, 2021, those shares are not eligible.

2. You purchased American Depositary Shares (ADSs) on a U.S. exchange. DiDi ADSs traded on the New York Stock Exchange under the ticker DIDI. Shares purchased on other exchanges may not qualify. ADSs held through standard U.S. brokerage accounts (Fidelity, Schwab, Vanguard, Robinhood, etc.) count.

3. You suffered a loss on those shares. The plan of allocation calculates your recognized loss based on the price you paid, the price you sold (or held through the end of the class period), and the date of each transaction. Not every DiDi ADS purchaser will have a recognized loss under the plan’s formula.

Who is NOT eligible: DiDi itself, its officers and directors named as defendants, the underwriter defendants, and their immediate family members are excluded from the class. Participants in and beneficiaries of any ERISA-covered employee retirement or benefit plan should not include DiDi ADS transactions made through an employee plan on an individual claim form. ERISA plan trustees must file separately.

Payment Calculation Examples

Your individual payment depends on your recognized loss under the Plan of Allocation. The Plan uses a formula that accounts for when you purchased your shares, what you paid, and whether and when you sold them.

Some Class Members may recover more or less than the estimated average amount depending on, among other factors, when and at what prices they purchased or sold their DiDi ADSs, and the total number of valid Claim Forms submitted.

Example A — Higher Recovery (IPO purchaser, held through losses): An investor who purchased 1,000 DiDi ADSs at the IPO price of $14.00 on June 30, 2021, and held through July 22, 2021, when the stock dropped significantly, may have a larger recognized loss per share. At the estimated $1.84 average recovery (pre-fees), that investor’s gross estimated payment before deductions would be approximately $1,840 on 1,000 shares. Actual payment will be lower after attorney fees and costs are deducted.

Example B — Mid Recovery (secondary market purchaser): An investor who purchased 500 DiDi ADSs at $13.00 on July 8, 2021, and sold at $8.50 before the end of the class period would have a smaller recognized loss because they sold before the full stock drop. Their pro-rata share of the net fund would be proportionally smaller.

Example C — Zero or Minimal Recovery: An investor who purchased DiDi ADSs during the class period but sold them before July 22, 2021, at or above their purchase price would have little or no recognized loss under the Plan of Allocation and may receive little or no payment.

Note: These examples are illustrative only. Your actual recovery depends on the final net fund amount, your specific transactions, and the total number of valid claims filed. No payment is guaranteed.

How to File a Claim

Step 1: Verify eligibility. Confirm you purchased DiDi ADSs between June 30 and July 21, 2021, and that you have brokerage records showing the transactions.

Step 2: Gather your documentation. Acceptable proof includes authorized statements from a broker containing transactional and holding information found in a confirmation slip or account statement. Pull your brokerage statements from mid-2021 showing your DiDi ADS purchase and sale transactions.

Step 3: Complete the Claim Form. File online at www.DiDiSettlement.com or download the claim form and mail it to:

In re DiDi Global Inc. Securities Litigation c/o Strategic Claims Services P.O. Box 230 600 N. Jackson Street, Suite 205 Media, PA 19063 Phone: (855) 496-9320 Email: [email protected]

Step 4: Submit before the deadline. Claims must be submitted online no later than 11:59 p.m. ET on April 6, 2026, or postmarked no later than April 6, 2026, if mailed.

High-value claims are likely to be audited. Administrators are applying increasingly rigorous scrutiny to claim submissions, and even small discrepancies such as missing transaction data or substantiation records can result in partial or full claim rejection. Submit complete, accurate records.

What This Means for Investors

The DiDi settlement is one of the 10 largest U.S. securities class actions of the past decade. For retail investors who bought DiDi ADSs during the IPO week, the settlement represents a chance to recover a portion of losses from one of the most visible Chinese company regulatory crackdowns in recent memory.

The settlement administrator will issue payments after it completes processing and the court resolves any appeals and grants final approval to the settlement. Even if the court approves the settlement on June 16, 2026, payment distribution will take additional time for the administrator to process and verify all claims. Investors should not expect checks before late 2026 at the earliest.

The April 6, 2026, claim deadline is the most pressing action item for eligible investors. If you do not file by that date, you permanently lose your right to share in the settlement fund, even though you will still be bound by the settlement’s release of claims.

Key Dates

Frequently Asked Questions

What is the DiDi class action lawsuit about? 

Plaintiffs alleged that DiDi Global and its IPO underwriters made false and misleading statements in DiDi’s June 2021 IPO registration statement by failing to disclose that Chinese regulators had warned DiDi about cybersecurity concerns and had suggested delaying the offering. The stock dropped sharply days after the IPO when China launched a formal cybersecurity review.

Who is eligible to file a claim? 

Any person or entity that purchased DiDi ADSs during the period June 30, 2021, through July 21, 2021, inclusive, may be a class member. Eligibility for a payment requires submitting a valid claim form with supporting brokerage documentation and having a recognized loss under the Plan of Allocation.

Has the settlement been approved? 

Not yet. The $740 million settlement is proposed and awaiting court approval. The final approval hearing is scheduled for June 16, 2026, before Judge Lewis A. Kaplan at the Southern District of New York. The settlement could be approved, rejected, or modified at that hearing.

Is a claim form required?

 Yes. If you are a Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement, but you will nevertheless be bound by any judgments or orders entered by the Court. Filing a claim is the only way to receive a payment.

What is the claim deadline?

 Claims must be submitted online at www.DiDiSettlement.com no later than 11:59 p.m. ET on April 6, 2026, or postmarked no later than April 6, 2026, if mailed. No exceptions have been announced for late claims.

Where is the official settlement website? 

The official settlement website is www.DiDiSettlement.com. The settlement administrator is Strategic Claims Services, reachable at (855) 496-9320 or [email protected]. Do not contact DiDi or the defendant banks directly about the settlement.

How much will I receive? 

The estimated average recovery is approximately $1.84 per affected ADS, before deduction of any Court-approved fees, expenses, and costs. Your actual payment depends on your specific transactions, your recognized loss under the Plan of Allocation, and the total number of valid claims submitted. No specific payment amount can be guaranteed.

What if I want to opt out?

 If you exclude yourself from the Class, you will not be eligible to receive any payment from the Settlement Fund. Excluding yourself is the only option that allows you ever to be part of any other lawsuit against any of Defendants’ Releasees concerning the Released Plaintiffs’ Claims. Opt-out requests must be received by April 6, 2026.

What happens if I do nothing? 

If you are a class member and do nothing, you will not receive any payment. You will also give up your right to sue the defendants individually for the claims covered by the settlement. Filing a claim is the only way to preserve your right to compensation.

Last Updated: February 28, 2026

This article is for informational purposes only and does not constitute legal or tax advice. Settlement terms, eligibility, and payment amounts are subject to court approval and may change. For official information, always refer to the settlement administrator or the official settlement website at www.DiDiSettlement.com.

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.
Her writing blends real legal insight with plain-English explanations, helping readers stay informed and legally aware.
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