SAN DIEGO, Jan. 19, 2024 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP notifies investors of Dada Nexus Limited (NASDAQ:DADA) that a securities class action lawsuit has been filed.
According to the complaint, during the class period, defendants failed to disclose that (1) Dada revenues from online advertising, marketing services, and operations and support costs were materially overstated, and (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.
The lawsuit seeks to recover losses on behalf of investors who acquired securities between May 11, 2023 and January 8, 2024. ...