Waterdrop Inc. Securities Fraud Class Action

Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Waterdrop Inc. (“Waterdrop”) (NYSE: WDH) American Depositary Shares (“ADSs”) pursuant and/or traceable to Waterdrop’s initial public offering (the “IPO”) on or around May 2021.

The complaint alleges that, in the Registration Statement, Defendants failed to disclose that Waterdrop was engaged in a variety of market abuses used to artificially inflate Waterdrop’s short-term financial results in the lead up to the IPO, including: (1) operating insurance platforms without proper governmental authorizations; (2) mispricing risks for consumers; and (3) illicitly using client information. Indeed, unbeknownst to investors, the reason that Waterdrop had discontinued its mutual aid segment was because it had been ordered to do so by Chinese regulators.

Current Status of Case:
On February 3, 2023, the Court granted Defendants’ Motion to Dismiss. Lead Plaintiff appealed the Court’s dismissal to the United States Court of Appeals for the Second Circuit. The Second Circuit affirmed the District Court’s Order on February 6, 2024. This action has concluded.

If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at [email protected]. If you would like additional information about the suit, please click on the link “Submit Your Information” above and fill out the form as promptly as possible.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs’ Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.