CLASS ACTION UPDATE for JT, MGI and CMCM: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, Dec. 19, 2018 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. There is no cost or obligation to you.
Jianpu Technology Inc. (NYSE: JT) Class Period: Pursuant and/or traceable to the initial public offering on or about November 16, 2017 Lead Plaintiff Deadline: December 24, 2018 Join the action: https://www.zlk.com/pslra-1/jianpu-technology-inc-loss-form?wire=3
The complaint alleges that the Company’s IPO offering materials contained inaccurate statements of material fact and/or omitted material information required to be disclosed in order to make such statements not misleading, including failure to disclose that the China Banking Regulatory Commission and three other Chinese regulators had issued rules in 2016 requiring peer-to-peer lending companies to appoint qualified banking institutions as custodians and disclose their use of deposits.
On November 21, 2017, news outlets reported that China’s Financial Stability and Development Committee (“FSDC”) had issued an urgent notice to provincial governments urging them to suspend regulatory approval of new internet micro-loan companies. Following this news, Jianpu’s shares fell over 38% in three days and closed at $4.90 per share on November 24, 2017.
To learn more about the Jianpu Technology Inc. class action, contact email@example.com.
MoneyGram International, Inc. (NASDAQGS: MGI) Class Period: February 11, 2014 - November 8, 2018 Lead Plaintiff Deadline: January 14, 2019 Join the action: https://www.zlk.com/pslra-1/moneygram-international-inc-loss-form-2?wire=3
About the lawsuit: Throughout the class period, MoneyGram International, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) MoneyGram was aware for years of high levels of fraud involving its money transfer system; (2) MoneyGram failed to implement appropriate anti-fraud countermeasures, in part, because doing so would adversely impact its revenue; (3) this misconduct would draw scrutiny from the FTC, which had an agreed-upon order requiring MoneyGram to implement a comprehensive anti-fraud program; (4) this misconduct would draw scrutiny from the Department of Justice, which entered into a Deferred Prosecution Agreement concerning MoneyGram’s anti-fraud and anti-money laundering programs; and (5) as a result, defendants’ statements about MoneyGram’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
To learn more about the MoneyGram International, Inc. class action, contact firstname.lastname@example.org.
Cheetah Mobile Inc. (NYSE: CMCM) Class Period: April 26, 2017 - November 27, 2018 Lead Plaintiff Deadline: January 29, 2019 Join the action: https://www.zlk.com/pslra-1/cheetah-mobile-inc-loss-form?wire=3
About the lawsuit: During the class period, Cheetah Mobile Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) Cheetah Mobile’s apps had undisclosed embedded features which tracked when users downloaded new apps; (2) Cheetah Mobile used this data to inappropriately claim credit for having caused the downloads; (3) the foregoing features, when discovered, would foreseeably subject Cheetah Mobile’s apps to removal from the Google Play store; (4) accordingly, Cheetah Mobile’s revenues during the relevant period were in part the product of improper conduct and thus unsustainable; and (5) as a result, Cheetah Mobile’s public statements were materially false and misleading at all relevant times.
To learn more about the Cheetah Mobile Inc. class action, contact email@example.com.
You have until the lead plaintiff deadlines to request the court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT:Levi & Korsinsky, LLPJoseph E. Levi, Esq.55 Broadway, 10th FloorNew York, NY 10006 firstname.lastname@example.org Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171 www.zlk.com