Los Angeles - 
(NewMediaWire) - November 8, 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
