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LAWSUITS FILED AGAINST WDH, RECAF and SNAP - JAKUBOWITZ LAW PURSUES SHAREHOLDERS CLAIMS

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·4 min read
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NEW YORK, NY / ACCESSWIRE / November 15, 2021 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.

Waterdrop Inc. (NYSE:WDH)

CONTACT JAKUBOWITZ ABOUT WDH:
https://claimyourloss.com/securities/waterdrop-inc-loss-submission-form/?id=21184&from=1

This lawsuit is on behalf of all persons or entities who purchased Waterdrop American Depositary Shares in or traceable to the Company's May 2021 initial public offering.

Lead Plaintiff Deadline : November 15, 2021

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) Waterdrop had achieved a substantial portion of its historical revenue growth through illicit means that ran afoul of Chinese rules and regulations governing the insurance industry; (b) Waterdrop had been ordered by the Chinese government to shut down its mutual aid platform because of its failure to comply with Chinese law; (c) Waterdrop was under investigation by regulatory authorities for continued violations of Chinese law; (d) as a result of (a)-(c) above, there existed a material undisclosed risk and substantial likelihood that Waterdrop would face severe adverse actions by regulatory authorities following the IPO; (e) Waterdrop's operating losses had increased more than four-fold in the first quarter of 2021 as a result of the cessation of its mutual aid business and rapidly growing customer acquisition costs; and (f) as a result of (a)-(e) above, the Registration Statement's representations regarding Waterdrop's historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of the Company in the lead up to the IPO, were materially false and misleading, and lacked a factual basis.

Reconnaissance Energy Africa Ltd. f/k/a Lund Enterprises Corp. (OTCQX: RECAF)

CONTACT JAKUBOWITZ ABOUT RECAF:
https://claimyourloss.com/securities/reconnaissance-energy-africa-ltd-f-k-a-lund-enterprises-corp-loss-submission-form/?id=21184&from=1

Class Period : February 28, 2019 - September 7, 2021

Lead Plaintiff Deadline : December 27, 2021

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) ReconAfrica's plan for using unconventional means for energy extraction (including fracking) in the fragile Kavango area; (2) ReconAfrica would begin unlicensed drilling tests; (3) ReconAfrica would illegally use water for well testing; (4) ReconAfrica would illegally store used water in unlined pools; (5) ReconAfrica would skirt Namibian law and hire an inadequate and inappropriate consultant; (6) as a result, ReconAfrica risked future well, drilling, and water-related licenses in Namibia and Botswana; (7) as opposed to its representations, ReconAfrica did not reach out nor provide adequate information (including in relevant local languages) through accessible means to those to be impacted by its testing and potential energy extraction; (8) ReconAfrica's interests are in the Owambo Basin, not the so-called Kavango Basin; (9) ReconAfrica has continuously engaged in stock pumping; and (10) as a result of the foregoing, Defendants' public statements were materially false and/or misleading at all relevant times.

Snap Inc. (NYSE: SNAP)

CONTACT JAKUBOWITZ ABOUT SNAP:
https://claimyourloss.com/securities/snap-inc-loss-submission-form/?id=21184&from=1

Class Period : July 22, 2020 - October 21, 2021

Lead Plaintiff Deadline : January 10, 2022

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Apple's privacy changes would have, and were having, a material impact on the Company's advertising business; (2) Snap overstated its ability to transition its advertising with Apple's privacy changes; (3) Snap knew of, but downplayed, the risks of the impact that Apple's privacy changes had on the Company's advertising business; (4) Snap overstated its commitment to privacy; and (5) as a result of the foregoing, Defendants' public statements and statements to journalists were materially false and/or misleading at all relevant times.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

SOURCE: Jakubowitz Law



View source version on accesswire.com:
https://www.accesswire.com/672834/LAWSUITS-FILED-AGAINST-WDH-RECAF-and-SNAP--JAKUBOWITZ-LAW-PURSUES-SHAREHOLDERS-CLAIMS