NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Jianpu Technology Inc. (NYSE: JT) pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with Jianpu’s initial public offering on or about November 16, 2017 (the “IPO”). The lawsuit seeks to recover damages for Jianpu investors under the federal securities laws.
To join the Jianpu class action, go to https://www.rosenlegal.com/cases-1436.html or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or zhalper@rosenlegal.com for information on the class action.
According to the lawsuit, the documents filed in connection with Jianpu’s IPO contained materially false and/or misleading statements and/or failed to disclose that: (1) the China Banking Regulatory Commission and three other Chinese regulators had issued rules in August 2016 requiring peer-to-peer (“P2P”) lending companies to, among other things, appoint qualified banking institutions as custodians and disclose their use of deposits; (2) China created the Financial Stability and Development Committee to coordinate major financial reforms, as well as implement market regulation and monetary and industrial policy; (3) the aforementioned would likely result in the disqualification of a significant majority of P2P lenders in China resulting in a dramatic reduction in the total number of existing, as well as potential, financial service providers that had been the primary source of Jianpu’s revenue; and (4) as a result, Jianpu’s Registration Statement was materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 24, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to https://www.rosenlegal.com/cases-1436.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Zachary Halper, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or zhalper@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.