NEW YORK, Sept. 21, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Dingdong (Cayman) Ltd. (“Dingdong” or the “Company”) DDL. Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether Dingdong and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On or about June 29, 2021, Dingdong completed its initial public offering (“IPO”) and issued approximately 4.07 million American Depositary Shares (“ADSs”) at a price of $23.50 per ADS. Then, on March 17, 2022, News from Beijing reported that Chinese regulators have opened an investigation in Dingdong for food safety violations. According to the report, Dingdong had replaced the labels on expired vegetables and sold frozen fish products as fresh.

As a result of this news, Dingdong’s ADS price fell by $0.46 per ADS, or 10.82%, to close at $3.79 per ADS on March 17, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com

CONTACT:
Robert S Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980