NEW ORLEANS, Sept. 13, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, is reminding investors they have until October 24, 2022 Lead Plaintiff’s motions in a securities class action lawsuit against Dingdong (Cayman) Limited DDLif they purchased or acquired the Company’s American Depository Shares (“ADS”) pursuant to and/or traceable to the Company’s June 2021 IPO (the “IPO”). This lawsuit is pending in the United States District Court for the Southern District of New York.
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Dingdong investors should visit us at https://claimsfiler.com/cases/nyse-ddl/ or call toll free (844) 367-9658. Kahn Swick & Foti, LLC attorneys are available to discuss your legal options.
About the lawsuit
Dingdong and some of its executives are accused of failing to disclose material information in its IPO registration statement, thereby violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the company disregarded its responsibility for food safety and failed to live up to its stated obligation to provide “fresh” food to customers; (ii) the Company’s quality control measures were inadequate, exposing it to increased risk of regulatory and/or regulatory scrutiny and enforcement; and (iii) as a result of the foregoing, the Company’s registration statement was, at all relevant times, materially incorrect and misleading.
The case is McCormack v. Dingdong (Cayman) Ltd., et al., No. 22-cv-7273.
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