BOSTON, Jan. 17, 2024 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed against Dada Nexus Ltd. ADR (NASDAQ: DADA) for securities law violations. Investors who purchased shares and have lost money are encouraged to contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/dada.
What is this all about?
Before the market opened on January 8, 2024, Dada Nexus disclosed having identified suspicious practices in a routine audit, and that as a result the Company’s revenue guidance should no longer be relied on. Dada Nexus estimates that revenues from online advertising and marketing services, and operations and support costs may have been overstated for the first three quarters of 2023.
Shares of Dada Nexus Ltd. ADR were down over 35% in intraday trading on January 8, 2024.
Who is eligible?
Anyone who purchased Dada Nexus Ltd. ADR stock between May 11, 2023 and January 8, 2024, and has lost money may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What should you do next?
The deadline to seek appointment as lead plaintiff is March 11, 2024. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.
Why should you contact Block & Leviton?
Block & Leviton is widely regarded as one of the leading securities class action firms in the country. Our attorneys have recovered billions of dollars for defrauded investors and are dedicated to obtaining significant recoveries on behalf of our clients through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.
This notice may constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com
SOURCE: Block & Leviton LLP
www.blockleviton.com
