Waterdrop Inc. Company News: Berger Montague Investigates Securities Fraud Allegations Against Waterdrop, Inc. (WDH); Lead Plaintiff Deadline is November 15, 2021

Philadelphia, Pennsylvania--(Newsfile Corp. - October 22, 2021) - Berger Montague is investigating securities fraud allegations against Waterdrop, Inc. ("Waterdrop" or the "Company"). The Firm is investigating these claims on behalf of investors who purchased Waterdrop securities, including American Depositary Shares ("ADS") (NYSE: WDH), on or traceable to the Company's May 2021 initial public offering and between May 4, 2021 and September 14, 2021 (the "Class Period")

If you purchased Waterdrop securities during the Class Period, would like to discuss Berger Montague's investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Michael Dell'Angelo at mdellangelo@bm.net or (215) 875-3080.

Whistleblowers: Anyone with non-public information regarding Waterdrop is encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.

Based in Beijing, China, Waterdrop operates an insurance tech platform that matches consumers with health and life insurance products. In May 2021, Waterdrop completed its IPO, selling 30 million ADSs at $12.00 per share.

On August 11, 2021, multiple news sources reported that China's banking and insurance watchdog, the China Banking and Insurance Regulatory Commission, had issued an order directing insurance companies, including Waterdrop, to cease improper marketing and pricing practices rampant in the industry and enhance their user privacy protections.

On September 8, 2021, Waterdrop announced its financial results for the quarter ended June 30, 2021, noting that operating losses had continued to accelerate due to a sharp increase in the Company's costs and operating expenses. On September 13, 2021, Waterdrop ADSs dropped to a low of $3 per share, having lost 75% of the value at which it was sold to the investing public.

Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.

Contacts

Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net

Michael Dell'Angelo, Managing Shareholder
Berger Montague
(215) 875-3080
mdellangelo@bm.net

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100558