Security Investigation

Dada Nexus Limited (NasdaqGS: DADA)

7 Days left to seek lead plaintiff status.

Company Name:Dada Nexus Limited
Stock Symbol:NasdaqGS: DADA
Court:Central District of California
Class Period Start:05/11/2023
Class Period End (inclusive):01/08/2024
Filing Deadline:03/11/2024

Contact a Lawyer Now

(877) 515-1850

Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until March 11, 2024 to file lead plaintiff applications in a securities class action lawsuit against Dada Nexus Limited (NasdaqGS: DADA).

Dada Nexus and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On January 8, 2024, pre-market, the Company disclosed that “certain suspicious practices were identified that may cast doubt on certain revenues from the Company’s online advertising and marketing services in 2023,” specifically estimated to include “approximately RMB500 million of revenues from online advertising and marketing services and RMB500 million of operations and support costs [that] may have been overstated, respectively, for the first three quarters of 2023.” Further, the Company stated that “the revenue guidance previously provided by the Company for the fourth quarter and full year of 2023 should no longer be relied upon until further notice.”

On this news, the price of Dada’s American Depositary Receipts plummeted approximately 45%, to close at $17.12 per share, on January 8, 2024.

If you sold or held securities of Dada Nexus as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or fill out the form on this page.

The case is Wang v. Dada Nexus Limited, et al., No. 24-cv-00239.

Click here to read the first filed complaint.