Los Angeles - 
(NewMediaWire) - September 28, 2021 - The Schall Law
Firm, a national
shareholder rights litigation firm, announces the filing of a class action
lawsuit against Waterdrop Inc. (“Waterdrop” or “the Company”)
(NYSE: WDH) for
violations of the
federal securities laws.
Investors who
purchased the Company's shares pursuant and/or traceable to the Company’s
initial public offering conducted in May 2021 (the “IPO”), are encouraged to
contact the firm before November 15, 2021.
If you are a
shareholder who suffered a loss, click here to participate.
We also encourage you
to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite
2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of
charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class, in this
case, has not yet been certified, and until certification occurs, you are not
represented by an attorney. If you choose to take no action, you can remain an
absent class member.
According to the
Complaint, the Company made false and misleading statements to the market.
Waterdrop achieved its past revenue growth through illicit means likely to draw
the attention of Chinese regulators for violating their rules. The Company was
ordered by the Chinese government to shut down its mutual aid platform because
it did not comply with Chinese law. The Company’s operating losses increased
significantly in the first quarter of 2021 based on shutting down the mutual
aid platform and increased customer acquisition costs. Based on these facts,
the Company’s public statements were false and materially misleading throughout
the IPO period. When the market learned the truth about Waterdrop, investors
suffered damages.
Join the case to recover your losses.
The Schall Law Firm
represents investors around the world and specializes in securities class
action lawsuits and shareholder rights litigation.
This press release may
be considered Attorney Advertising in some jurisdictions under the applicable
law and rules of ethics.
CONTACT:
The Schall
Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
SOURCE:
The Schall Law Firm
