NEW YORK, September 19, 2021 (GLOBE NEWSWIRE) – WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of the buyers of the American Depositary Shares (“ADS”) of Waterdrop Inc. (NYSE: WDH) pursuant to and / or traceable to the IPO carried out in May 2021 (the “IPO”). A class action has already been filed. If you want to serve as the principal applicant, you must move the court no later than November 15, 2021.
SO WHAT: If you have purchased Waterdrop ADSs in accordance with and / or traceable to IPO, you may be entitled to compensation without payment of any fees or additional charges through a contingency fee agreement.
WHAT TO DO NEXT: To join the Waterdrop class action lawsuit, go to http://www.rosenlegal.com/cases-register-2158.html or call Phillip Kim, Esq. toll free at 866-767-3653 or by emailing [email protected] or [email protected] for information on the class action. A class action has already been filed. If you want to serve as the principal applicant, you must move the court no later than November 15, 2021. A principal plaintiff is a representative party acting on behalf of the other members of the class to direct the litigation.
WHY THE ROSEN LAW: We encourage investors to select qualified advisors with a track record of success in leadership roles. Often, companies issuing reviews do not have comparable experience, resources or peer recognition. Be wise in choosing the right lawyer. Rosen law firm represents investors around the world, focusing its practice on class actions in securities and derivative litigation between shareholders. Rosen law firm has secured the largest securities class action settlement against a Chinese company. Rosen law firm was ranked # 1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has been ranked in the top 4 every year since 2013 and has recovered hundreds millions of dollars for investors. In 2019 alone, the company raised more than $ 438 million for investors. In 2020, founding partner Laurence Rosen was appointed by law360 as the Titan of Plaintiffs’ Bar. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.
CASE DETAILS: According to the lawsuit, the IPO registration statement contained false and / or misleading statements and / or failed to disclose that: (1) Waterdrop had achieved a substantial portion of its historic revenue growth through illicit means which ranged against Chinese rules and regulations governing the insurance industry; (2) Waterdrop had been ordered by the Chinese government to shut down its mutual aid platform due to its failure to comply with Chinese law; (3) Waterdrop was under investigation by regulatory authorities for continued violations of Chinese law; (4) as a result of the foregoing, there was a material undisclosed risk and a substantial likelihood that Waterdrop would be the subject of serious adverse action by regulatory authorities as a result of the IPO; (5) Waterdrop’s operating losses more than quadrupled in the first quarter of 2021 due to the cessation of its mutual aid business and the rapid growth in customer acquisition costs; and (6) Due to the foregoing, the statements in the IPO registration statement regarding Waterdrop’s historical financial and operating metrics and alleged market opportunities did not accurately reflect the business, operations , the actual financial results and trajectory of the Company in the run-up to the IPO, were materially false and misleading, and lacked a factual basis. When the real details entered the market, the lawsuit claims that investors have suffered damage.
To join the Waterdrop class action lawsuit, go to http://www.rosenlegal.com/cases-register-2158.html or call Phillip Kim, Esq. toll free at 866-767-3653 or by emailing [email protected] or [email protected] for information on the class action.
No class has been certified. Until a group is certified, you are not represented by a lawyer unless you hire one. You can choose the lawyer of your choice. You can also remain an absent group member and do nothing at this point. The ability of an investor to participate in any potential future payback does not depend on whether he is a principal applicant.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th Floor
New York, New York 10016
Phone. : (212) 686-1060
Toll free: (866) 767-3653
Fax: (212) 202-3827