ClaimsFiler, a FREE shareholder information service, reminds investors that they have to file lead plaintiff applications in a securities class action lawsuit against Waterdrop Inc. if they purchased the Company’s American Depository Shares (“ADS”) issued in connection with its May 2021 initial public stock offering (the “IPO”). This action is pending in the United States District Court for the Southern District of New York.
Waterdrop investors should visit us at https://claimsfiler.com/cases/nyse-wdh/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Waterdrop and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement and Prospectus, violating federal securities laws.
On September 8, 2021, the Company disclosed operating losses for the quarter ended June 30, 2021 totaling RMB815.4 million (US$126.3 million), compared with an operating profit of RMB7.2 million for the same period of 2020 due to the Company’s operating costs and expenses during the quarter increasing by RMB1,081.1 million, or 160.5% year over year, to RMB1,754.7 million (US$271.8 million) from RMB673.6 million for the same period of 2020.
The case is Sandoz v. Waterdrop Inc., et al, 21-cv-7683
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