Wolf Popper LLP Announces Investigation on Behalf of Investors in Dada Nexus Limited

Core Viewpoint - Wolf Popper LLP is investigating potential securities fraud claims against Dada Nexus Limited following the company's disclosure of overstated revenues and costs, leading to a significant drop in its stock price [1] Group 1: Company Disclosure - Dada Nexus Limited revealed "suspicious practices" and acknowledged that its revenues from online advertising and marketing services were overstated by approximately $47 million for the first three quarters of 2023 [1] - The company advised investors to no longer rely on its previous revenue guidance for the fourth quarter [1] Group 2: Market Reaction - Following the announcement, Dada's American Depositary Shares (ADS) price fell by $1.45 to $1.71, representing a decline of 45.9% on heavy trading volume [1] Group 3: Investor Impact - Investors who incurred losses exceeding $25,000 from trading Dada's ADS are encouraged to discuss the investigation with Wolf Popper LLP [1]