A lawsuit was filed on behalf of investors in Jianpu Technology Inc. (NYSE: JT) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 11/07/2018 -- An investor, who purchased shares of Jianpu Technology Inc. (NYSE: JT), filed a lawsuit over alleged Securities Laws violations by Jianpu Technology Inc. in connection with the Company's initial public offering (the "IPO") on or about November 16, 2017.
Investors who purchased shares of Jianpu Technology Inc. (NYSE: JT), have certain options and for certain investors are short and strict deadlines running. Deadline: December 24, 2018. NYSE: JT investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On November 16, 2017, Jianpu Technology Inc u conducted its initial public offering ("IPO") of American depositary shares at a price of $8.00 per share. On November 21, 2017, the Financial Stability and Development Committee had issued an urgent notice to provincial governments urging them to suspend regulatory approval of new internet micro-loan companies. Shares of Jianpu Technology Inc. (NYSE: JT) fell more than 30%, to close at just $4.90 per share on November 24, 2017.
The plaintiff alleges that the Registration Statement and Prospectus for the IPO contained allegedly inaccurate statements of material fact and/or omitted material information required to be disclosed in order to make such statements not misleading. More specifically, the plaintiff claims that the Registration Statement and Prospectus failed to disclose, among other things, that the China Banking Regulatory Commission and three other Chinese regulators had issued rules in August 2016 requiring peer-to-peer lending companies to, among other things, appoint qualified banking institutions as custodians and disclose their use of deposits, and that China had determined to create the Financial Stability and Development Committee under its State Council to coordinate major financial reforms, as well as to implement market regulation and monetary and industrial policy, all of which would likely result in the disqualification of a significant majority of peer-to-peer 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.
Those who purchased shares of Jianpu Technology Inc. (NYSE: JT) have certain options and should contact the Shareholders Foundation.
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