YORK, Sept. 30, 2022 /PRNewswire/
-- Jakubowitz Law announces that a securities fraud class
action lawsuit has commenced on behalf of shareholders of Dingdong
(Cayman) Ltd. (NYSE: DDL).
To receive updates on the lawsuit, fill out the
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.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
October 24, 2022 to petition
the court. Your ability to share in any recovery doesn't require
that you serve as a lead plaintiff.
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.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
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SOURCE Jakubowitz Law