The PennZone

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Dingdong (Cayman) Limited ("Dingdong" or the "Company") (NYSE: DDL) investors concerning the Company's possible violations of federal securities laws.

In June 2021, Dingdong conducted its initial public offering ("IPO"), selling approximately 4.07 American Depository Shares ("ADS") at $23.50 per ADS.

On March 17, 2022, Beijing News published a report stating that Chinese regulators launched a probe into Dingdong for food safety violations, alleging that the Company "replaced labels on expired vegetables and sold frozen fish products as fresh."

On this news, Dingdong's ADS price fell $0.46, or 10.8%, to close at $3.37 per ADS on March 17, 2022, thereby injuring investors.

More on The PennZone

• Hiclean Tools Releases HCX2100 Electric Pressure Washer
• Bùng Nổ Ra Mắt, AALIVE Tung Gói Thưởng 68% và Dàn Game Thuần Việt Hấp Dẫn
• ARCH Dental + Aesthetics Offers Free Consultations for New Patients
• Maisano Brothers Inc. Expands National Paving Division Into Tampa, Florida
• New Online Retailer Vroom Bikez Brings Electric Bikes and Scooters to Eco-Conscious Consumers

Since the IPO, the Company's ADSs have traded as low as $2.51 per share, or 89% below the IPO price.

If you purchased Dingdong securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

---

Show All News | Report Violation