NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC («KSF») and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 24, 2022 to file lead plaintiff applications in a securities class action lawsuit against Dingdong (Cayman) Limited (NYSE: DDL), if they purchased or acquired the Company’s American Depository Shares (“ADS”) pursuant and/or traceable to the Company’s June 2021 initial public offering (the “IPO”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased or acquired ADS of Dingdong as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ddl/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by October 24, 2022.
About the Lawsuit
Dingdong and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company was disregarding food safety responsibilities, failing to deliver on its stated commitment to provide “fresh” groceries to customers; (ii) the Company’s quality control measures were inadequate, exposing it to an increased risk of regulatory and/or governmental scrutiny and enforcement; and (iii) as a result of the foregoing, the Company’s Registration Statement was materially false and misleading at all relevant times.
The case is Mccormack v. Dingdong (Cayman) Ltd., et al, No. 22-cv-7273.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850