Case Summary

Dada Nexus

NASDAQ: DADA

Case Details

  • Wang v. Dada Nexus Limited et al.
  • Class Period:May 11, 2023 - January 08, 2024
  • Date Filed:January 10, 2024
  • Jurisdiction:U.S. District Court, Central District of California
  • Docket Number: 2:24-cv-00239
  • Lead Plaintiff Deadline: March 11, 2024
Days Left to
Seek Plaintiff
19

Overview

A class action lawsuit has been filed against Dada Nexus Limited (“Dada” or the “Company”) (NASDAQ: DADA) and certain of the Company’s current and former senior executive officers alleging violations of the Securities Exchange Act of 1934. The lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Dada Nexus securities between May 11, 2023, and January 8, 2024, both dates inclusive (the “Class Period”) and investors have until March 05, 2024, to seek appointment as lead plaintiff of the Dada Nexus class action lawsuit.

Dada Nexus Ltd is a China-based holding company principally involved in the operation of local on-demand retail and delivery platforms. The Company’s main platforms are JD-Daojia (JDDJ) and Dada Now. JDDJ is an on-demand retail platform operated in China.

The lawsuit alleges that throughout the Class Period, Defendants made materially 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.

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If you purchased or otherwise acquired Dada Nexus (NASDAQ: DADA) securities between May 11, 2023, and January 8, 2024, both dates inclusive, and suffered substantial losses, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Dada Nexus lawsuit is March 11, 2024.

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