DADA INVESTOR ALERT: Edelson Lechtzin LLP Urges Dada Nexus Ltd. (NASDAQ: DADA) Shareholders with Substantial Losses to Consult Counsel About the Pending Securities Fraud Class Action
NEWTOWN, PA, January 14, 2024 — The law firm of Edelson Lechtzin LLP is investigating securities fraud claims on behalf of all purchasers of Dada Nexus Ltd. (NASDAQ: DADA) securities between May 11, 2023, and January 8, 2024, inclusive (the “Class Period”).
Investors who purchased DADA common stock may move the U.S. District Court for the Central District of California to appoint them as lead plaintiff, no later than March 11, 2024. Current holders of Dada stock may pursue corporate governance reforms. Please contact Edelson Lechtzin LLP at 844-696-7492 to discuss your investment losses, or by e-mail at [email protected]. A copy of the class action complaint can be viewed HERE.
Background on Dada Nexus Limited
Dada Nexus Ltd. is a China-based company that provides on-demand retail and delivery services through Dada Now and JDDJ.
The Securities Fraud Claims
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or omissions regarding Dada’s business, operations, and prospects, including that: (i) Dada revenue from online advertising, marketing services, and operations were materially overstated; (ii) as a result, Dada would need to conduct an independent review to ascertain the financial impact and scope of suspicious practices that led to overstated revenue and costs; and (iii) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
For more information, please contact:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 or 215-867-2399 ext. 1
Email: [email protected]
Email: [email protected]
Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices.
This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.