Dada Nexus Limited

Ticker: DADA

Class Period Start: 05/11/2023

Class Period End: 01/08/2024

Registration Deadline: 03/11/2024

A securities class action has been filed in the USDC —C.D.CA. against Dada Nexus Limited (DADA) (“Dada” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Dada securities between May 11, 2023 and January 8, 2024, both dates inclusive (the “Class Period”).

 

Dada is a platform for local on-demand retail and delivery in China. The Company operates JD-Daojia (“JDDJ”), one of China’s largest local ondemand retail platforms for retailers and brand owners, and Dada Now, a leading local on-demand delivery platform open to merchants and individual senders across various industries and product categories.

 

The Complaint alleges that the Defendants made materially false and/or misleading statements and failed to disclose the following adverse facts pertaining to the Company’s business, operations and prospects, which were known to Defendants or recklessly disregarded by them. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:

(1)  Dada revenues from online advertising, marketing services, and operations and support costs were materially overstated;

(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; and

(3)  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, thereby harming investors.

 

Following the Company’s issuance of several press release, the price of Dada’s American Depositary Receipts closed at $17.12 per share, on January 8, 2024.

 

If you purchased Dada securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.

Purchases

Sales

Please Note

Neither the submission to nor the receipt of information by Lowey Dannenberg or one of its attorneys through this website constitutes an agreement by our firm to represent the individual and does not create an attorney-client relationship. Please do not send confidential or sensitive information through this website. This information should be communicated through a direct contact with an individual at the firm.

* Indicates a required field.

Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.