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LTRY, NIO & DDL Class Actions: Bronstein, Gewirtz & Grossman, LLC, A Leading Class Action Firm, Reminds Investors to Contact the Firm and Actively Participate

Monday, September 19, 2022 11:00 AM
Bronstein, Gewirtz and Grossman, LLC
https://www.bgandg.com/
Topic:
Lawsuits

NEW YORK, NY / ACCESSWIRE / September 19, 2022 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can 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. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Bronstein, Gewirtz and Grossman, LLC, Monday, September 19, 2022, Press release picture

Lottery.com, Inc. (NASDAQ:LTRY)

Class Period: November 15, 2021 - July 29, 2022

Deadline: October 18, 2022
For more info:www.bgandg.com/ltry.

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company lacked adequate internal accounting controls; (2) the Company lacked adequate internal controls over financial reporting pertaining to revenue recognition and the reporting of cash; (3) the Company was not in compliance with state and federal laws governing the sale of lottery tickets; and (4) as a result, the Company's public statements were materially false and misleading at all relevant times.

NIO Inc. (NYSE:NIO)

Class Period: March 1, 2021 - July 11, 2022

Deadline: October 24, 2022
For more info:www.bgandg.com/nio.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose material adverse facts about the Company's business operations and prospects. Specifically, Defendants failed to disclose to investors that: (1) NIO pulled forward revenue by selling batteries to a related party, which owned the batteries and managed users' subscriptions; (2) through the related party, NIO also recognized enormous depreciation savings; (3) as a result of the foregoing, the Company's revenue and net loss were overstated; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Dingdong (Cayman) LTD (NYSE:DDL)

Class Period: Dingdong American Depository Shares ("ADS") pursuant and/or traceable to the Company's IPO on or about June 28, 202

Deadline: October 24, 2022
For more info:www.bgandg.com/ddl.

The Complaint alleges that the Registration Statement and Prospectus used to effectuate the Company's IPO misstated and/or omitted facts concerning the Company's so-called commitment to ensuring the safety and quality of the food it distributes to the market. Despite claiming that it applies "stringent quality control across [its] entire supply chain to ensure product quality to [its] users," the Company sold food past its sell-by date. Consequently, the Company 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 the Company to an increased risk of regulatory and/or governmental scrutiny and enforcement, all of which, once revealed, were likely to (and did) negatively impact the Company's business, operations, and reputation.

Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]

SOURCE: Bronstein, Gewirtz and Grossman, LLC

Topic:
Lawsuits
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