The Klein Law Firm announces that a securities complaint has been filed on behalf of shareholders of Jianpu Technology Inc. (NYSE: JT) who purchased American Depositary Shares pursuant and/or traceable to the Company’s Initial Public Offering on or about November 16, 2017.
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 suffered a loss in Jianpu you have until December 24, 2018 to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require you serve as a lead plaintiff.
Please fill out the form to learn more