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.
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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