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The Honest Company, Inc. and Waterdrop, Inc. Investors: Last Days to Participate Actively in the Class Action Lawsuit; Portnoy Law Firm

·3 min read

Investors with losses are encouraged to contact the firm before November 15, 2021;

The Honest Company Inc. investors can click here to submit trade information
​​
Waterdrop, Inc. investors can click here to submit trade information

LOS ANGELES, Nov. 09, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of The Honest Company, Inc. (NASDAQ: HNST) investors that acquired shares in relation to the Company’s May 2021 IPO . Investors have until November 15, 2021 to seek an active role in this litigation.

Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.

It is alleged in this complaint that Honest’s Registration Statement was materially misleading and false and omitted: (1) that, prior to the IPO, Honest’s results had been significantly impacted in relation to a multimillion-dollar COVID-19 stock-up for products in the Household and Wellness category and Diapers and Wipes category; (2) that, at the time of the IPO, Honest was experiencing decelerating demand for such products; (3) that, as a result, it was likely that Honest’s financial results would be adversely impacted; and (4) Honest’s positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis, as a result of the foregoing.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 15, 2021.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Waterdrop, Inc. (NYSE: WDH) investors that acquired shares in relation to the Company’s May 2021 IPO. Investors have until November 15, 2021 to seek an active role in this litigation.

Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.

Waterdrop, on or about May 7, 2021, conducted its initial public offering (“IPO”), selling 30 million American Depositary Shares, priced at $12.00 per ADS, raising approximately $360 million. News outlets have reported following the IPO that Waterdrop received pushback on its capital markets plan from the China Banking and Insurance Regulatory Commission, which wanted the Waterdrop’s listing postponed, which led to an acceleration of the revision of relevant cybersecurity review rules that now impact Waterdrop. Waterdrop’s ADSs closed at $5.06 on July 26, 2021, representing a decline of $6.94 per ADS, or 57.83% since the IPO.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 15, 2021.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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