SAN DIEGO, Jan. 19, 2024 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP notifies investors of Dada Nexus Limited (NASDAQ: DADA) that a securities class action lawsuit has been filed.
According to the complaint, during the class period, defendants failed to disclose that (1) Dada revenues from online advertising, marketing services, and operations and support costs were materially overstated, and (2) as a result, Dada would need to conduct an independent review to ascertain the financial impact and the scope of suspicious practices that led to overstated revenues and costs.
The lawsuit seeks to recover losses on behalf of investors who acquired securities between May 11, 2023 and January 8, 2024. Investors have until March 11, 2024, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
If you would like to review the complaint and join the class action please follow the link below for more information: https://www.johnsonfistel.com/investigations/dada-nexus
There is no cost or obligation to you.
What can Investors Do: Shareholders who incurred losses during the class period, have until March 11, 2024, to move the court to become a lead plaintiff in this action. A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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Contact:
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
