LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Jianpu Technology Inc. To Contact The Firm
NEW YORK, Nov. 08, 2018 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Jianpu Technology Inc. (“Jianpu” or the “Company”) (NYSE:JT) of the December 24, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Jianpu American Depository Shares pursuant or traceable to the Company’s November 16, 2017 Initial Public Offering (“IPO”) and would like to discuss your legal rights, click here: www.faruqilaw.com/JT. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
CONTACT: FARUQI & FARUQI, LLP 685 Third Avenue, 26th Floor New York, NY 10017Attn: Richard Gonnello, Esq.email@example.comTelephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Jianpu American Depository Shares pursuant or traceable to the Company’s November 16, 2017 IPO. The case, Panther Partners, Inc. v. Jianpu Technology Inc. et al, No. 18-cv-09848 was filed on October 25, 2018.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by negligently preparing its Registration Statement, which is alleged both to have contained untrue statements of material fact and to have omitted to state other facts necessary to make the statements made therein not misleading.
Specifically, on November 21, 2017, just two business days after the Company’s IPO, several news sources announced that the Financial Stability and Development Committee (“FSDC”) issued an urgent notice to provincial governments urging them the suspend regulatory approval of new internet micro loan companies. That day, Reuters issued a news report titled “China clamps down on online micro lending; U.S.-listed shares plunge,” which described, among other things, an effort by a ‘top-level’ Chinese government body to suspend regulatory approval for the setting up of new internet micro-lenders.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Jianpu’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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