GROSS LAW FIRM

Waterdrop Inc. Loss Submission Form

The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of Waterdrop Inc. who purchased in or traceable to the Company’s May 2021 initial public offering..

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.

If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.

Shareholders have until November 15, 2021 to request that the court appoint them lead plaintiff.

To receive more information, please fill out the form.

Name

Email

Physical Address

Phone Number

Shares Owned

Purchase Date

Loss

By submitting your information, it does not create an attorney-client relationship and you are giving us your express consent to contact you by email, text message, SMS, or call you by telephone.

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