SAN DIEGO, Sept. 12, 2022 (GLOBE NEWSWIRE) — The class: Law firm for shareholder rights Robbins LLP Reminds investors that a shareholder has filed a class action lawsuit on behalf of all persons owning Dingdong Ltd.’s American Depositary Shares (“ADS”). (NYSE: DDL) pursuant to or attributable to the Company’s initial public offering in June 2021 (“IPO”)) for violating the Securities Act of 1933. Dingdong claims to be a leading and fastest-growing on-demand Being an e-commerce company in China.

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What is it about in this case: dingdong ltd (DDL) has misrepresented the quality of its food

According to the lawsuit, as of June 2021, defendants issued approximately 4.07 million ADS to the investing public at $23.50 per ADS, all pursuant to the registration statement.

According to the registration statement, Dingdong’s mission is to “make fresh food as available to every household as running water”. To achieve this goal, Dingdong is said to have “dedicated to a user-centric philosophy” that commits to “directly . . . fresh produce, meat and seafood, and other daily necessities through a convenient and superior shopping experience backed by an extensive frontline self-operated fulfillment network.” Crucially, Dingdong differentiates itself from its competitors by claiming , “. . . Products mainly from direct upstream sources such as farms and cooperatives” “apply strict quality controls [its] entire supply chain to ensure product quality [its] users” and rely on its “frontline fulfillment grid and robust, digitized fulfillment capabilities. . . [to] deliver . . . Orders within 30 minutes.”

Unknown to potential investors, however, the registration statement misrepresented Dingdong’s commitment to ensuring the safety and quality of the food it sells in the market. As a matter of fact,…