(MENAFN- GlobeNewsWire - Nasdaq) NEW YORK, Oct. 22, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Dingdong (Cayman) Ltd. (“Dingdong” or the“Company”) (NYSE: DDL). Such investors are advised to contact Robert S. Willoughby at or 888-476-6529, ext. 7980.
The investigation concerns whether Dingdong and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around June 29, 2021, Dingdong conducted its initial public offering (“IPO”), issuing approximately 4.07 million American Depositary Shares (“ADSs”) priced at $23.50 per ADS. Then, on March 17, 2022, Beijing News reported that Chinese regulators had launched a probe into Dingdong for food safety violations. According to the report, Dingdong had replaced labels on expired vegetables and sold frozen fish products as fresh.
On this news, Dingdong's ADS price fell $0.46 per ADS, or 10.82%, to close at $3.79 per ADS on March 17, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See .
CONTACT:
Robert S. Willoughby
Pomerantz LLP
888-476-6529 ext. 7980
Tags
MENAFN22102022004107003653ID1105064317
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.