Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have untilNovember 15, 2021 to file lead plaintiff applications in a securities class action lawsuit against Waterdrop Inc. (NYSE: WDH), if they purchased the Company’s American Depository Shares (“ADS”) issued in connection with its May 2021 initial public stock offering (the “IPO”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased ADS of Waterdrop as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https%3A%2F%2Fwww.ksfcounsel.com%2Fcases%2Fnyse-wdh%2F to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by November 15, 2021.
About the Lawsuit
Waterdrop and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement and Prospectus, violating federal securities laws.
On September 8, 2021, the Company disclosed operating losses for the quarter ended June 30, 2021 totaling RMB815.4 million (US$126.3 million), compared with an operating profit of RMB7.2 million for the same period of 2020 due to the Company’s operating costs and expenses during the quarter increasing by RMB1,081.1 million, or 160.5% year over year, to RMB1,754.7 million (US$271.8 million) from RMB673.6 million for the same period of 2020.
The case is Sandoz v. Waterdrop Inc., et al, 21-cv-7683.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
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