Jianpu Technology Inc. (NYSE: JT)
Hagens Berman Sobol Shapiro LLP alerts investors in Jianpu Technology Inc. (NYSE: JT) to the December 24, 2018 Lead Plaintiff deadline in the securities class action pending in the U.S. District Court for the Southern District of New York.
If you purchased or otherwise acquired shares of JT between November 13, 2017 and October 25, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information, contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing JT@hbsslaw.com.
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.
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