Class Action Lawsuit Initiated Against Dada Nexus Ltd. by Bragar Eagel & Squire, P.C.

Investors are notified that Bragar Eagel & Squire, P.C., a law firm specializing in the defense of stockholder rights, has filed a class action lawsuit concerning Dada Nexus Ltd. (referred to as 'Dada' or the 'Company'), trading under the ticker symbol NASDAQ:DADA. This lawsuit has been lodged in the United States District Court for the Central District of California. It represents all individuals and entities who invested in Dada securities from May 11, 2023, to January 8, 2024, which is designated as the 'Class Period'.

The action comes after assertions that Dada made false and misleading statements about its financial health during the Class Period. Specifically, the allegations point to an overstatement of its revenues from various sources such as online advertising and marketing services. Additionally, the company's operational costs were purportedly also inaccurately reported. As a consequence, Dada admitted the need for an independent review to assess the financial impact and investigate the suspicious practices that resulted in the distorted financial information.

These misleading financial statements have prompted the lawsuit, which claims that Dada's communication to investors about its business operations and prospects was fundamentally flawed and lacked a factual basis. Consequently, stockholders who experienced a loss or those seeking more information about the class action now have until March 11, 2024, to reach out for potential appointment as a lead plaintiff.

Should affected investors or long-term stockholders wish to learn more or inquire about the implications of this class action, they are encouraged to contact representatives Brandon Walker or Marion Passmore through email or telephone, using the provided contact information. The firm assures that such inquiries incur no financial obligation or cost.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C., renowned for its nationwide presence and expertise, operates from offices located in New York, California, and South Carolina. The firm takes pride in advocating for both individual and institutional investors across a multitude of intricate litigation, ranging from securities to derivative cases, in both state and federal courts.

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