Waterdrop, Inc. Investors: Company Investigated by the Portnoy Law Firm

Tuesday, 27. July 2021 14:00

LOS ANGELES, July 27, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Waterdrop, Inc. ("Waterdrop" or the "Company") (NYSE: WDH) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

Waterdrop, on or about May 7, 2021, conducted its initial public offering (“IPO”), selling 30 million American Depositary Shares, priced at $12.00 per ADS, raising approximate $360 million. News outlets have reported following the IPO that Waterdrop received pushback on its capital markets plan from the China Banking and Insurance Regulatory Commission, which wanted the Waterdrop’s listing postponed, which led to an acceleration of the revision of relevant cybersecurity review rules that now impact Waterdrop. Waterdrop’s ADSs closed at $5.06 on July 26, 2021, representing a decline of $6.94 per ADS, or 57.83% since the IPO.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar

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