New York, New York--(Newsfile Corp. - September 29, 2022) - Levi & Korsinsky, LLP notifies investors in Dingdong (Cayman) Ltd. ("Dingdong" or the "Company") DDL of a class action securities lawsuit.
The lawsuit on behalf of Dingdong investors has been commenced in the the United States District Court for the Southern District of New York. 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. Follow the link below to get more information and be contacted by a member of our team:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500. There is no cost or obligation to you.
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Dingdong (Cayman) Ltd. NEWS - DDL NEWS
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 SHAREHOLDERS: If you suffered a loss in Dingdong during the relevant timeframe, you have until October 24, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. Discuss your rights with our legal team without cost or obligation.
PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form https://www.zlk.com/pslra-1/dingdong-lawsuit-submission-form?prid=32248&wire=5 or call 212-363-7500 to discuss the case.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138895
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