Investigation announced for Long-Term Investors in shares of Dingdong (Cayman) Limited (NYSE: DDL)

An investigation was announced for investors in shares of Dingdong (Cayman) Limited (NYSE: DDL) concerning potential breaches of fiduciary duties by certain directors and officers of Dingdong (Cayman) Limited.

Investors who are current long term investors in Dingdong (Cayman) Limited (NYSE: DDL) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for investors in NYSE: DDL stocks follows a lawsuit filed against Dingdong (Cayman) Limited over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: DDL stocks, concerns whether certain Dingdong (Cayman) Limited directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that 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.

The plaintiff claims that 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, that, 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, and that 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.

Those who purchased shares of Dingdong (Cayman) Limited (NYSE: DDL) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.