| COMPANY |
Waterdrop Inc. |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
21-cv-07683 |
| JUDGE |
The Honorable Vernon S. Broderick |
| CLASS PERIOD |
Traceable to Waterdrop’s May 2021 initial public offering (IPO) |
| SECURITY TYPE |
American Depositary Shares |
Case Background:
A class action lawsuit has been filed on behalf of those who purchased or acquired Waterdrop Inc. (“Waterdrop”) (NYSE: WDH) American Depositary Shares (“ADSs”) in or traceable to Waterdrop’s May 2021 initial public offering (the “IPO”).
The complaint alleges that the Registration Statement 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 Second Circuit Court of Appeals. Mandate of the Appellate Court affirming the District Court's order of dismissal was entered on February 6, 2024. This action has concluded.
f you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. 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.