Dada Nexus Stock Lawsuit Investigation
At a glance
What is The Dada Nexus Securities Class Action Lawsuit Investigation about?Gibbs Law Group is investigating potential claims on behalf of Dada Nexus investors.
What did Dada Nexus do Wrong?We are investigating whether Dada Nexus has violated federal securities laws by providing false or misleading statements to investors.
What do you get out of this?This potential lawsuit seeks to help Dada Nexus shareholders recover their losses.
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Dada Stock News: Dada discloses “suspicious practices;”; warns previous revenue guidance should no longer be relied upon
Before the market opened on January 8, 2024, Dada Nexus revealed that “in the course of its routine internal audit, certain suspicious practices were identified that may cast doubt on certain revenues from the Company’s online advertising and marketing services in 2023.” According to Dada, the company “estimates that approximately RMB500 million of revenues from online advertising and marketing services and RMB500 million of operations and support costs may have been overstated, respectively, for the first three quarters of 2023.” In its Monday filing, Dada added that previous revenue guidance for the fourth quarter and full year of 2023 should no longer be relied upon.
Following this news, Dada stock plummeted over 36% in intraday trading, causing significant harm to investors.
Our Securities Lawyers Have a Winning Record Against Companies Like Dada Nexus
Our securities lawyers have recovered over a billion dollars on behalf of our clients against behemoths, such as Chase Bank, Mastercard, and Anthem Blue Cross Blue Shield. Read more about our results.
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