Cases
Jianpu Technology Inc. (JT)
Securities Class Action
Overview
Overview
- Date:
- 11/2/2018
- Company Name:
- Jianpu Technology Inc.
- Stock Symbol:
- JI
- Class Period:
- FROM 11/6/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern District of New York
NEW YORK, November 2, 2018 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Jianpu Technology Inc. (NYSE: JT) pursuant and/or traceable to the initial public offering on or about November 16, 2017. Investors have until December 24, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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.
If you purchased Jianpu Technology Inc.securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
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.
If you purchased Jianpu Technology Inc.securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.