LOS ANGELES, Dec. 10, 2018 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Jianpu Technology Inc. (“Jianpu” or “the Company”) (NYSE: JT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares 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, are encouraged to contact the firm before December 24, 2018.
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We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Prior to Jianpu’s IPO in 2017, the China Banking Regulatory Commission and other regulators issued rules in 2016 requiring peer-to-peer (P2P) lending companies to appoint institutional banking custodians and disclose usage of deposits. The country also set out to create the Financial Stability and Development Committee to oversee reform and industry policy. These government changes combined to result in a large reduction in the number of current and potential peer-to-peer lending providers, the main source of Jianpu’s revenue. Based on these facts, Jianpu’s public comments and the Company’s IPO Registration Statement was false and materially misleading throughout the IPO period. When the market learned the truth about Jianpu, investors suffered damages.
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