NEW YORK, NY / ACCESSWIRE / October 13, 2021 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
Koninklijke Philips N.V. (NYSE:PHG)
Investors Affected: February 25, 2020 - June 11, 2021
A class action has commenced on behalf of certain shareholders in Koninklijke Philips NV. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Philips had deficient product manufacturing controls or procedures; (ii) as a result, the Company's Bi-Level PAP and CPAP devices and mechanical ventilators were manufactured using hazardous materials; (iii) accordingly, the Company's sales revenues from the foregoing products were unsustainable; (iv) the foregoing also subjected the Company to a substantial risk of a product recall, in addition to potential legal and/or regulatory action; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/koninklijke-philips-n-v-loss-submission-form/?id=20401&from=1
Waterdrop Inc. (NYSE:WDH)
This lawsuit is on behalf of all persons or entities who purchased Waterdrop American Depositary Shares in or traceable to the Company's May 2021 initial public offering.
A class action has commenced on behalf of certain shareholders in Waterdrop Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) Waterdrop had achieved a substantial portion of its historical revenue growth through illicit means that ran afoul of Chinese rules and regulations governing the insurance industry; (b) Waterdrop had been ordered by the Chinese government to shut down its mutual aid platform because of its failure to comply with Chinese law; (c) Waterdrop was under investigation by regulatory authorities for continued violations of Chinese law; (d) as a result of (a)-(c) above, there existed a material undisclosed risk and substantial likelihood that Waterdrop would face severe adverse actions by regulatory authorities following the IPO; (e) Waterdrop's operating losses had increased more than four-fold in the first quarter of 2021 as a result of the cessation of its mutual aid business and rapidly growing customer acquisition costs; and (f) as a result of (a)-(e) above, the Registration Statement's representations regarding Waterdrop's historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of the Company in the lead up to the IPO, were materially false and misleading, and lacked a factual basis.
Shareholders may find more information at https://securitiesclasslaw.com/securities/waterdrop-inc-loss-submission-form/?id=20401&from=1
Hyzon Motors Inc. f/k/a Decarbonization Plus Acquisition Corporation (NASDAQ:HYZN)
Investors Affected: February 9, 2021 - September 27, 2021
A class action has commenced on behalf of certain shareholders in Hyzon Motors Inc f/k/a Decarbonization Plus Acquisition Corporation. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Hyzon was misrepresenting the nature of its "customer" contracts and severely embellished its "deals" and "partnerships" with customers; (2) Hyzon could not deliver its announced vehicles in 2021, on its stated timeline; and (3) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/hyzon-motors-inc-f-k-a-decarbonization-plus-acquisition-corporation-loss-submission-form/?id=20401&from=1
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE: The Gross Law Firm
View source version on accesswire.com:
https://www.accesswire.com/667976/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-PHG-WDH-and-HYZN
