SAN DIEGO, Aug. 26, 2022 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announced that a lawsuit was filed for certain investors in Dingdong (Cayman) Limited (NYSE: DDL) shares.
Investors with losses more than $100,000 in shares of Dingdong (Cayman) Limited (NYSE: DDL) have certain options and there are short and strict deadlines running. Deadline: October 24, 2022. NYSE: DDL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On August 25, 2022, a lawsuit was filed against Dingdong (Cayman) Limited. The plaintiff alleges that the registration statement and prospectus used to effectuate the Company’s IPO 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. The plaintiff claims that 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, that, 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, and that 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 (and did) negatively impact Dingdong’s business, operations, and reputation. In fact, as the truth about Dingdong’s business and its failure to meet its self-imposed food safety responsibilities reached the market, the value of the Company’s shares declined dramatically.
Those who purchased Dingdong (Cayman) Limited (NYSE: DDL) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
