NEW YORK, NY / ACCESSWIRE / December 23, 2018 / Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Jianpu Technology Inc. (JT) pursuant to 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 http://pawarlawgroup.com/cases/jianpu-technology-inc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email email@example.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR'S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
According to the lawsuit, the documents filed in connection with the 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 had determined to create the Financial Stability and Development Committee ("FSDC") 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 http://pawarlawgroup.com/cases/jianpu-technology-inc/ or to discuss your rights or interests regarding this class action, please contact Vik Pawar, Esq. of Pawar Law Group toll free at 888-589-9804 or via e-mail at firstname.lastname@example.org.
Pawar Law Group represents investors from around the world.
SOURCE: Pawar Law Group