(MENAFN- PR Newswire)
NEW YORK, Sept. 13, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Dingdong (Cayman) Ltd. ( NYSE: DDL ) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of persons who purchased, or otherwise acquired, Dingdong American Depository Shares pursuant or traceable to the F-1 registration statements and related prospectus on Form 424B4 issued in connection with Dingdong's June 2021 initial public stock offering.Lead Plaintiff Deadline: October 24, 2022 No obligation or cost to you.
Learn more about your recoverable losses in DDL:
Dingdong (Cayman) Ltd. NEWS - DDL NEWS
CLASS ACTION CASE DETAILS: According to the filed complaint, the registration statement and prospectus used to effectuate the Company's initial public offering misstated and/or omitted facts concerning Dingdong's so-called commitment to ensuring the safety and quality of the food it distributes to the market. For example, despite claiming that it applies 'stringent quality control across [its] entire supply chain to ensure product quality to [its] users,' Dingdong sold food past its sell-by date. Consequently, Dingdong was, in fact, no better at providing or assuring access to 'fresh' groceries than the supermarkets, traditional Chinese wet markets, or traditional e-commerce platforms it repeatedly claimed to be displacing. Moreover, the foregoing conduct subjected Dingdong to an increased risk of regulatory and/or governmental scrutiny and enforcement, all of which, once revealed, were likely to negatively impact Dingdong's business, operations, and reputation.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Dingdong you have until October 24, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Dingdong securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the DDL lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: .
ABOUT KLEIN LAW FIRM J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:J. Klein, Esq.535 Fifth Avenue4th FloorNew York City, NY 10017[email protected] Telephone: (212) 616-4899
SOURCE The Klein Law Firm
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