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Ryde faces US class action and Cayman Islands winding-up petition

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  • Ryde faces a US class action and Cayman Islands petition over disclosures, governance and share issuances.
  • Ryde shares fell about 75% to US$2.08 after reaching US$22.49 on Sept. 11.
  • Octava’s voting rights fell from 39.8% to 23% after Ryde issued Class B shares to Zou.
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