NEW YORK, July 28, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Waterdrop Inc. («Waterdrop» or the «Company») (NYSE: WDH). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Waterdrop and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or about May 7, 2021, Waterdrop conducted its initial public offering («IPO»), selling 30 million American Depositary Shares («ADSs») priced at $12.00 per ADS and raising approximate $360 million. Following the IPO, news outlets have reported that Waterdrop received pushback on its capital markets plan from the China Banking and Insurance Regulatory Commission, which wanted the Company’s listing postponed, leading to an acceleration of the revision of relevant cybersecurity review rules now impacting Waterdrop.
On July 26, 2021, Waterdrop’s ADSs closed at $5.06, representing a decline of $6.94 per ADS, or 57.83% since the IPO.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP