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LOS ANGELES, CA / ACCESSWIRE / November 12, 2021 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Waterdrop Inc. ("Waterdrop" or "the Company") (NYSE:WDH) for violations of the federal securities laws.
Investors who purchased the Company's shares pursuant and/or traceable to the Company's initial public offering conducted in May 2021 (the "IPO"), are encouraged to contact the firm before November 15, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Waterdrop achieved its past revenue growth through illicit means likely to draw the attention of Chinese regulators for violating their rules. The Company was ordered by the Chinese government to shut down its mutual aid platform because it did not comply with Chinese law. The Company's operating losses increased significantly in the first quarter of 2021 based on shutting down the mutual aid platform and increased customer acquisition costs. Based on these facts, the Company's public statements were false and materially misleading throughout the IPO period. When the market learned the truth about Waterdrop, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
SOURCE: The Schall Law Firm
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