SAN FRANCISCO, CA / ACCESSWIRE / October 3, 2022 / National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP urgesDingdong (Cayman) Ltd. ("Dingdong") (NYSE:DDL) investors who suffered losses in connection with Dingdong's June 2021 Initial Public Offering ("IPO") to contact our law offices 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