BENSALEM, Pa.–(BUSINESS WIRE)–$JT #classaction–Law Offices of Howard G. Smith reminds investors of the December
24, 2018 deadline to file a lead plaintiff motion in the class
action filed on behalf of investors that purchased Jianpu Technology
Inc. (“Jianpu” or the “Company”) (NYSE: JT)
American Depositary Shares (“ADS”) in and/or traceable to the Company’s
initial public offering (the “IPO”) on or about November 16, 2017.
Jianpu investors have until December 24, 2018 to file a
lead plaintiff motion.
Investors suffering losses on their Jianpu investments are encouraged to
contact the Law Offices of Howard G. Smith to discuss their legal rights
in this class action at 888-638-4847 or by email to [email protected].
On November 16, 2017, Jianpu conducted its initial public offering of
American depositary shares at a price of $8.00 per share. On November
21, 2017, however, Chinese regulators banned the issuance of new online
peer-to-peer licenses, citing improper and illegal practices by lenders
such as Qudian and PPDAI. On this news, Jianpu’s share price fell more
than 30%, to close at just $4.90 per share on November 24, 2017, thereby
The complaint filed in this class action alleges that 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 are alleged to be false and
If you purchased shares of Jianpu during the Class Period you may move
the Court no later than December 24, 2018 to ask the Court
to appoint you as lead plaintiff if you meet certain legal requirements.
To be a member of the Class you need not take any action at this time;
you may retain counsel of your choice or take no action and remain an
absent member of the Class. If you wish to learn more about this action,
or if you have any questions concerning this announcement or your rights
or interests with respect to these matters, please contact Howard G.
Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike,
Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847,
toll-free at (888) 638-4847, or by email to [email protected],
or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.