New York, October 22, 2026 / PRNewswire / Pomerantz LLP announces that a class action has been filed against Ryde Group Ltd ("Ryde" or "the Company") ( NYSE : RYDE ).

Law firms recommend that investors who have suffered investment losses contact Danielle Peyton, with the email address [email protected] and the phone number 646-581-9980, or the toll-free number 888.4-POMLAW extension 7980. For those consulting via email, it is recommended to attach their mailing address, phone number, and the quantity of stocks purchased.

The issue addressed in this class action is whether Ryde and some of its senior executives and/or directors have engaged in securities fraud or other illegal business practices.

If investors purchased or acquired Ryde securities during the class action period, they may apply to the court to be designated as the lead plaintiff in this class action no later than November 9, 2026. Copies of the complaint are available at www.pomerantzlaw.com.

A lawsuit filed on behalf of securities investor Ryde claims that the case originated from the sudden collapse of the stock price of Ryde in September 2024, which was allegedly manipulated by a fraudulent stock promotion scheme spread through social media.

The complaint alleges that in the weeks and months before the stock price collapse, despite no changes in the company's fundamentals and no news sufficient to support a surge in stock prices, the Ryde stock price still rose from its initial public offering (IPO) price of $4.00 per share to a historical high of $22.49.

Subsequent investigations and public reports revealed that Ryde utilized social media to plan an illegal "pull-up and sell" promotion scheme to deceive investors. According to the reports, individuals posing as legitimate financial advisors recommended Ryde in online forums, chat groups, and social media posts, creating a frenzy among retail investors with sensational but unfounded claims.

However, this sharp rise did not last for long.

On September 11, 2024, the stock price of Ryde plummeted by about 75% to $5.50. Subsequently, the company's stock price quickly fell to around $0.50.

Pomerantz LLP has offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, and is considered one of the leading law firms in the fields of corporate, securities, and antitrust class actions. The firm was founded by the late Abraham L Pomerantz, who is regarded as a pioneer in the field of class action litigation. Pomerantz set a precedent in the area of securities class actions. More than 85 years later, Pomerantz continues this founding tradition, fighting for the rights of victims of securities fraud, breach of fiduciary duty, and corporate misconduct. The firm has secured compensation awards in the millions of dollars for its class members. For more details, please refer to www.pomlaw.com.

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