SAN DIEGO, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Dada Nexus Limited (NASDAQ:DADA) securities between May 11, 2023 and January 8, 2024. Dada is a platform for local on-demand retail and delivery in China.
For more information, submit a form, email Aaron Dumas, Jr., or give us a call at (800) 350-6003.
What is this Case About: Dada Nexus Limited (DADA) Allegedly Overstated its Revenues
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.
On December 19, 2023, the Company issued a press release announcing Mr. Lijun Xin would be stepping down immediately as Chairman of ...