Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Jianpu Technology, Inc. (JT)
BENSALEM, Pa.–(BUSINESS WIRE)–
Law Offices of Howard G. Smith reminds investors of the upcoming April 19, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Jianpu Technology, Inc. (“Jianpu” or the “Company”) (NYSE: JT) American Depositary Shares (“ADSs” or “shares”) between May 29, 2018 and February 16, 2021, inclusive (the “Class Period”).
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 February 16, 2021, Jianpu announced the results of its review into “transactions carried out by the Credit Card Recommendation Business Unit” with third-party business entities. The Company concluded that previously reported revenue and associated expenses had been inflated due to “certain transactions [that] involved third-party agents (including both upstream agents and downstream suppliers) with undisclosed relationships and some transactions [that] lacked business substance.” Jianpu stated that it “anticipates the total amount of overstated revenue for the fiscal years 2018 and 2019 to be approximately, RMB 90 million and RMB 164 million, respectively, representing approximately 4.5% and 10.1% of the total revenue previously reported.”
On this news, the Company’s share price fell $0.60, or 13%, to close at $3.94 per share on February 16, 2021, on unusually heavy trading volume.
If you purchased or otherwise acquired Jianpu ADSs during the Class Period, you may move the Court no later than April 19, 2021 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action 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 action. If you wish to learn more about this class 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 www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20210224005156/en/
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com
KEYWORDS: Pennsylvania United States North America
INDUSTRY KEYWORDS: Legal Professional Services
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