NEW YORK, Sept. 11, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is reminding investors that class action lawsuits may be filed on behalf of shareholders of NIO, Inc. (NYSE: NIO ), Bed Bath & Beyond, Inc. (NASDAQ:BBBY), Dingdong (Cayman) Ltd. (NYSE:DDL) and Stitch Fix, Inc. (NASDAQ:SFIX). Shareholders have until the deadlines below to petition the court to appear as lead plaintiffs. For more information on each case, see the link provided.

NIO, Inc. (NYSE:NIO)

Class Period: August 20, 2020 – July 11, 2022

Lead Plaintiff Deadline: October 24, 2022

On June 28, 2022, Grizzly Research published a report that claimed, among other things, that NIO increased its net income by approximately 95% through sales to a related party, Wuhan Weineng Battery Asset Co. (“Weineng”).

As a result of this news, the Company’s American Depositary Shares (“ADSs” or “Shares”) fell $0.59, or 2.5%, on unusually high trading volume to close at $22.36 per share on June 28, 2022.

Then, on July 11, 2022, NIO announced that it had formed a special committee to oversee an investigation into the allegations in the Grizzly Research report.

As a result of this news, the company’s shares fell $2.03, or 8.9%, on unusually high trading volume to close at $20.57 per share on July 11, 2022.

The Complaint filed in this Class Action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, the defendants failed to disclose to investors that: (1) NIO generated revenue from the sale of batteries to a related party that owned the batteries and managed users’ subscriptions; (2) that NIO also realized significant depreciation savings through the related party; (3) that as a result of the foregoing, the Company’s earnings and net loss have been overstated; and (4) that as a result…