Dingdong (Cayman) Ltd.

Ticker: DDL

Registration Deadline: 10/24/2022

A securities class action lawsuit has been filed in the USDC, S.D.N.Y. against Dingdong (Cayman) LTD (NYSE: DDL) (“Dingdong” or the “Company”), its U.S. representatives, certain Dingdong directors and officers and the underwriters of the Dingdong’s June 2021 initial public offering (“IPO”), alleging violations of §§11, 12 and 15 of the Securities Act, 15 U.S.C. §§ 77k, 77l(a)(2), and 77o.  If you purchased Dingdong American Depository Shares (“ADS”) pursuant and/or traceable to the Company’s IPO on or about June 28, 2021, you are encouraged to complete the information below. 

Dingdong purports to be a leading and the fastest growing on-demand e-commerce company in China.  Dingdong’s mission is to “make fresh groceries as available as running water to every household.”

According to the complaint, the registration statement and prospectus used to effectuate the Company’s IPO misstated and/or omitted facts concerning Dingdong’s so-called commitment to ensuring the safety and quality of the food it distributes to the market.  For example, despite claiming that it applies “stringent quality control across [its] entire supply chain to ensure product quality to [its] users,” Dingdong sold food past its sell-by date.  Consequently, Dingdong was, in fact, no better at providing or assuring access to “fresh” groceries than the supermarkets, traditional Chinese wet markets, or traditional e-commerce platforms it repeatedly claimed to be displacing.  Moreover, the foregoing conduct subjected Dingdong to an increased risk of regulatory and/or governmental scrutiny and enforcement, all of which, once revealed, were likely to (and did) negatively impact Dingdong’s business, operations, and reputation.  In fact, as the truth about Dingdong’s business and its failure to meet its self-imposed food safety responsibilities reached the market, the value of the Company’s shares declined dramatically.  By the commencement of the action, Dingdong’s shares traded as low as $2.51 per ADS, representing a decline of over 89% from the $23.50 IPO offering price.

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.

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