DINGDONG SHAREHOLDER WARNING BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN
NEW ORLEANS, Oct. 04, 2022 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors that 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.
What you can do
If you have purchased or acquired ADS from Dingdong as described above and would like to discuss your legal rights and how this case may affect you and your right to compensation for your economic loss, you may contact KSF Managing Partner at no obligation or cost to you Lewis contact Kahn toll-free at 1-877-515-1850 or email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ddl/ to learn more. If you wish to be a lead plaintiff in this class action lawsuit, you must file a petition with the court October 24, 2022.
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.
About Kahn Swick & Foti, LLC
KSF, which partners with former Louisiana attorney…
Read full story here https://www.benzinga.com/pressreleases/22/10/g29148360/dingdong-shareholder-alert-by-former-louisiana-attorney-general-kahn-swick-foti-llc-reminds-invest