Tuya Beats Investor Suit Over Amazon Review Crackdown Post-IPO

Cloud platform service provider Tuya Inc. skirted allegations it should’ve disclosed before its IPO that customers were making fake product reviews in violation of Amazon.com Inc. policies, risking the company’s business and share prices.

Investors failed to allege any false or misleading statements in Tuya’s registration statement connected to its 2021 initial public offering, said Judge John P. Cronan. The US District Court for the Southern District of New York judge granted Tuya’s motion for judgment on the pleadings March 7.

Cronan is allowing plaintiffs to file a second amended complaint through March 28. But he said, “at minimum,” ...