Zai Lab Limited (NASDAQ: ZLAB) Investor Alert: Investigation over Possible Violations of Securities Laws
An investigation for investors in Zai Lab Limited (NASDAQ: ZLAB) shares over potential securities laws violations by Zai Lab Limited was announced.
San Diego, CA -- (SBWire) -- 04/25/2022 --Zai Lab Limited is under investigation over potential securities laws violations by Zai Lab Limited in connection with certain financial statements.
Investors who purchased shares of Zai Lab Limited (NASDAQ: ZLAB), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Zai Lab Limited regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
China based Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience primarily in Mainland China and Hong Kong. Zai Lab Limited reported that its annual Total Revenue rose from $48.95 million in 2020 to $144.31 million in 2021, and that its Net Loss increased from $268.9 million in 2020 to $704.47 million in 2021.
On March 9, 2022, the U.S. Securities and Exchange Commission ("SEC") published a notification identifying Zai Lab Limited, among other companies, as in potential violation of the Holding Foreign Companies Accountable Act, which allows the SEC to delist companies and ban a company's shares from being traded if the company fails to allow U.S. regulators to review their company audits for three straight years. Zai Lab Limited and the other companies named in the SEC notification have until March 29, 2022 to challenge the charges against them.
Those who purchased shares of Zai Lab Limited (NASDAQ: ZLAB) have certain options and should contact the Shareholders Foundation.
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