On May 6, 2021, a registration statement (the "Registration Statement) on a Form F-1 for the IPO filed by Waterdrop was declared effective. Waterdrop operates an insurance technology platform and is based in Beijing, China. LEAD PLAINTIFF DEADLINE: November 15, 2021ĬONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS: Consequently, while investors who purchased Waterdrop's American Depository Shares ("ADSs") in or traceable to the IPO have incurred significant losses, the complaint alleges that Waterdrop's illicit behavior generated hundreds of millions of dollars in gross proceeds for the defendants.ĬLICK HERE TO SUBMIT YOUR WATERDROP LOSSES District Court for the Southern District of New York, charging the company with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to its May 2021 initial public offering (the "IPO").
October 30, 2021) - The law firm of Kessler Topaz Meltzer & Check, LLP informs investors that a class action lawsuit has been filed against Waterdrop Inc. For more information about Kessler Topaz Meltzer & Check, LLP, please visit Pennsylvania-(Newsfile Corp. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. If you are an Eargo investor and would like to learn more about our investigation, please CLICK HERE to fill out our online form or contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. Following this news, Eargo's stock plunged, and on September 23, 2021, the stock closed at $6.86 per share, falling by as much as 65%. Eargo also stated that in light of the investigation by the DOJ, the company would be withdrawing its financial guidance for the fiscal year ending December 31, 2021. Department of Justice ("DOJ") would be conducting a criminal investigation into the company regarding Eargo's insurance reimbursement claims that it submits on behalf of its customers when they purchase the company's connected hearing aids. Then, on September 22, 2021, Eargo reported that the U.S. On August 12, 2021, when reporting its second-quarter 2021 financial results, Eargo revealed that its largest third-party payor, an insurance company, was conducting a claims audit on the company. The hearing aids sold by Eargo function to improve hearing loss by allowing natural bass sounds to flow more freely into the ear canal. ( NASDAQ:EAR) ("Eargo").Įargo, headquartered in San Jose, California, is a medical device company that specifically manufactures and sells hearing aids through online platforms. RADNOR, PA / ACCESSWIRE / Novem/ The law firm of Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of investors of Eargo, Inc.