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DKNG, LOTZ & DIDI Class Action Reminders and Upcoming Deadlines: Bronstein, Gewirtz & Grossman LLC

Bronstein, Gewirtz & Grossman, LLC
·3-min read

NEW YORK, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

DraftKings Inc. f/k/a Diamond Eagle Acquisition Corp., (NASDAQ: DKNG)
Class Period: December 23, 2019 - June 15, 2021
Deadline: August 31, 2021
For more info: www.bgandg.com/dkng.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) SBTech had a history of unlawful operations; (2) accordingly, DraftKings' merger with SBTech exposed the Company to dealings in black-market gaming; (3) the foregoing increased the Company's regulatory and criminal risks with respect to these transactions; (4) as a result of all the foregoing, the Company's revenues were, in part, derived from unlawful conduct and thus unsustainable; (5) accordingly, the benefits of the Business Combination were overstated; and (6) as a result, the Company's public statements were materially false and misleading at all relevant times.

CarLotz, Inc. (NASDAQ: LOTZ; LOTZW)
Class Period: December 30, 2020 - May 25, 2021
Deadline: September 6, 2021
For more info: www.bgandg.com/lotz.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) due to a surge in inventory during the second half of fiscal 2020, CarLotz was experiencing a "logjam" resulting in slower processing and higher days to sell; (2) as a result, the Company’s gross profit per unit would be negatively impacted; (3) to minimize returns to the corporate vehicle sourcing partner responsible for more than 60% of CarLotz’s inventory, the Company was offering aggressive pricing; (4) as a result, CarLotz’s gross profit per unit forecast was likely inflated; (5) CarLotz’s corporate vehicle sourcing partner would likely pause consignments to the Company due to market conditions, including increasing wholesale prices; and (6) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.

DiDi Global Inc. f/k/a Xiaoju Kuaizhi Inc. (NYSE: DIDI)
Class Period: (1) securities purchased pursuant and/or traceable to the Company's initial public offering conducted in June 2021 (the "IPO"), and/or (2) securities purchased between June 27, 2021 and July 6, 2021
Deadline: September 7, 2021
For more info: www.bgandg.com/didi.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) DiDi "had the problem of collecting personal information in violation of relevant PRC [People's Republic of China] laws and regulations"; (2) DiDi's app, DiDi Chuxing (Travel), would face an imminent cybersecurity review by the Cyberspace Administration of China ("CAC"); (3) the CAC would require all Chinese app stores to remove DiDi Chuxing; and (4) as a result, defendants' statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com