SAN FRANCISCO, CA / ACCESSWIRE / September 22, 2022 / National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP strongly recommends Dingdong (Cayman) Ltd. ("Dingdong") (NYSE:DDL) investors who suffered losses in connection with Dingdong's June 2021 Initial Public Offering ("IPO") contact a Lieff Cabraser attorney immediately regarding pending securities class action against Dingdong. The last day to apply to be a lead plaintiff is October 24, 2022.
Class Definition: Investors in Dingdong's June 2021 IPO
Lead Plaintiff Motion Deadline: October 24, 2022
For more information: https://www.lieffcabraser.com/securities/Dingdong/
Contact Lieff Cabraser: Email [email protected] or call 1-800-541-7358
The securities class action alleges that Dingdong, a grocery e-commerce company, misrepresented and omitted facts related to its commitment to the safety and quality of the groceries it delivers.
On March 17, 2022, Beijing News published a report revealing that Chinese regulators were investigating Dingdong for food safety violations uncovered by local news outlets. On this news, the price of Dingdong's American Depository Shares ("ADS") fell $0.46, or 10.82%, from a closing price of $4.25 per ADS on March 16, 2022, to close at $3.79 per share on March 17, 2022, well below its IPO offering price of $23.50.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with over 100 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a "Plaintiffs' Powerhouse" by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $124 billion in verdicts and settlements. Lieff Cabraser is committed to ensuring access to justice for all.
SOURCE: Lieff Cabraser Heimann & Bernstein