SAN FRANCISCO, Oct. 29, 2018 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP notifies investors in Jianpu Technology Inc. (NYSE: JT) of the December 24, 2018 Lead Plaintiff deadline in the securities class action pending in the United States District Court for the Southern District of New York. If you purchased or otherwise acquired Jianpu Technology American Depositary Shares (“ADS”) in and/or traceable to the Company’s initial public offering (“IPO”) conducted on or about November 16, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/JT
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
On or about November 16, 2017, Defendants conducted Jianpu’s IPO and issued 22.5 million ADSs at $8.00 per ADS.
Within days, Reuters reported China took steps to rein in the rapidly growing and lightly regulated market for online micro-lenders in the government’s latest crackdown on internet finance.
This news drove the price of Jianpu ADSs down over 38% during the three day period ended November 24, 2017 to close at $4.90 per ADS, or about 39% lower than the IPO price.
“We’re focused on investors’ losses and on Defendants’ apparent failures to fully explain existing known risks within their IPO offering documents,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Jianpu should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email JT@hbsslaw.com.
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Contact:
Reed Kathrein, 510-725-3000